Butcher Andrew 4
4 · LUXFER HOLDINGS PLC · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
Luxfer (LXFR) CEO Andrew Butcher Exercises RSUs, Sells Shares for Taxes
What Happened
Andrew Butcher, CEO of Luxfer Holdings plc (LXFR), had restricted stock units (RSUs) convert to ordinary shares on March 20, 2026. A total of 41,836 shares vested/converted (combined time‑based and performance‑based awards). To satisfy tax withholding obligations, 23,455 shares were surrendered/sold at $11.82 per share for total proceeds/withholding of $277,238. After withholding, Butcher received a net 18,381 shares.
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 23, 2026 (timely).
- Vesting/conversion: 41,836 shares converted from RSUs (entries show 8,290; 20,442; 13,104).
- Tax withholding/sale: 23,455 shares surrendered at $11.82/share for $277,238 (entries show 4,648; 11,460; 7,347 shares withheld).
- Net shares retained: 18,381 shares after withholding.
- Codes: M = derivative exercise/conversion (RSU conversion), A = grant/award, F = payment of exercise price/tax liability (share withholding).
- Footnotes: Time‑based RSUs (25% tranche from Mar 20, 2023) and multiple performance‑based RSUs (targets at 117% and 50%) vested on Mar 20, 2026 due to achievement of EPS and TSR goals (see F2–F6).
- Filing timeliness: Filed within the required reporting window (no late filing indicated).
- Shares owned after the transaction: The filing does not disclose prior total holdings; net new shares received from vesting = 18,381.
Context
This was a routine vesting of RSUs with shares withheld/sold to cover taxes (common, not an open‑market investment sale). Performance‑based awards vested in full per footnotes (EPS and TSR targets achieved). Such tax‑withholding disposals are administrative and do not necessarily indicate intent to buy or sell shares for investment purposes.
Insider Transaction Report
- Exercise/Conversion
Ordinary Shares
[F1]2026-03-20+8,290→ 254,499 total - Tax Payment
Ordinary Shares
2026-03-20$11.82/sh−4,648$54,939→ 249,851 total - Exercise/Conversion
Ordinary Shares
[F1]2026-03-20+20,442→ 270,293 total - Tax Payment
Ordinary Shares
2026-03-20$11.82/sh−11,460$135,457→ 258,833 total - Exercise/Conversion
Ordinary Shares
[F1]2026-03-20+13,104→ 271,937 total - Tax Payment
Ordinary Shares
2026-03-20$11.82/sh−7,347$86,842→ 264,590 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-03-20−8,290→ 8,297 total→ Ordinary Shares (8,290 underlying) - Award
Restricted Stock Units
[F1][F3]2026-03-20+20,442→ 20,442 totalFrom: 2026-03-20→ Ordinary Shares (20,442 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-03-20−20,442→ 0 total→ Ordinary Shares (20,442 underlying) - Award
Restricted Stock Units
[F1][F5]2026-03-20+13,104→ 13,104 totalFrom: 2026-03-20→ Ordinary Shares (13,104 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F6]2026-03-20−13,104→ 0 totalFrom: 2026-03-20→ Ordinary Shares (13,104 underlying)
Footnotes (6)
- [F1]Restricted Stock Units convert 1 for 1, subject to a nominal payment of $1.00 per Ordinary Share.
- [F2]Relates to 25% vesting of the Restricted Stock Units granted on Mach 20, 2023, the final 25% will vest March 20, 2027.
- [F3]Represents the grant of performance-based Restricted Stock Units (at 117% target) awarded on March 20, 2023. 100% of the performance-based Restricted Stock Units were granted and vested on March 20, 2026 upon the achievement of EPS growth goals for the performance period ended December 31, 2025.
- [F4]Represents the 100% vesting of performance-based Restricted Stock Units (at 117% target) awarded on March 20, 2023. 100% of the performance-based Restricted Stock Units were granted and vested on March 20, 2026 upon the achievement of EPS growth goals for the performance period ended December 31, 2025
- [F5]Represents the grant of performance-based Restricted Stock Units (at 50% target) awarded on March 20, 2023. 100% of the performance-based Restricted Stock Units were granted and vested on March 20, 2026 upon the achievement of relative total shareholder return (TSR) goals for the performance period ended December 31, 2025.
- [F6]Represents the 100% vesting of performance-based Restricted Stock Units (at 50% target) awarded on March 20, 2023. 100% of the performance-based Restricted Stock Units were granted and vested on March 20, 2026 upon the achievement of relative total shareholder return (TSR) goals for the performance period ended December 31, 2025.