Bitzer Jeffrey D 4

What Happened

• Jeffrey D. Bitzer, Chief Development Officer of Coronado Global Resources (ASX: CRN), had performance stock units (PSUs) vest and reported conversion/exercise activity and an award in mid‑February 2026. On Feb 11, 2026 he reported an exercise/conversion of 37,150.8 units (derivative code M) and a reported disposal of 371,508 underlying shares (both at $0.00 exercise price). On Feb 17, 2026 he reported a grant/award (code A) of 10,014.6 shares (reported at $0.00), which the filing notes corresponds to 100,146 CHESS Depositary Interests (CDIs). These entries reflect PSU vesting and conversion rather than an open‑market purchase.

Key Details

• Transaction dates and types:
  • 2026-02-11: Exercise/conversion of derivative (M) — 37,150.8 units acquired @ $0.00; 371,508 underlying shares disposed @ $0.00.
  • 2026-02-17: Grant/award (A) — 10,014.6 shares acquired @ $0.00 (footnote: equals 100,146 CDIs).
• Price/consideration: all reported at $0.00 (PSUs vested/converted; no cash purchase price).
• CDIs and conversion: Each PSU gave the right to one CDI; CDIs are convertible into common shares on a 10-for-1 basis (explains 37,150.8 → 371,508 and 10,014.6 → 100,146).
• Shares owned after transaction: not disclosed in the excerpt provided.
• Filing timeliness: The Form 4 was filed Feb 19, 2026. The Feb 11 transaction was reported more than two business days after the event (late filing), while the Feb 17 entry was reported within a short delay; the Feb 11 delay may be a reporting tardiness to note.

Context

• These entries are primarily awards/vesting and derivative conversions (PSUs → CDIs → underlying shares). The reported “Disposed” quantity likely reflects conversion/transfer of underlying shares following the PSU exercise; the $0.00 exercise price indicates the transactions arose from vested compensation, not cash purchases. For retail investors, vested PSU conversions and related disposals are routine compensation events and do not by themselves signal management’s market view.