Reyneke Josias W. 4

What Happened
Josias W. Reyneke, Chief Information Officer of Miller Industries (MLR), had 2,000 time‑based restricted stock units (RSUs) convert into common shares on March 1, 2026. All 2,000 RSU shares were issued; 480 of those shares were withheld to cover tax withholding at $42.03 per share, totaling $20,174. The Form 4 shows the RSU conversion (transaction code M) and the tax withholding (transaction code F). No open‑market sale of shares is reported.

Key Details

• Transaction date: March 1, 2026 (Form 4 filed March 3, 2026). Filing appears timely (Form 4 generally due within two business days).
• Shares involved: 2,000 RSUs converted to 2,000 shares; 480 shares withheld for taxes.
• Withholding price/value: 480 shares withheld at $42.03 per share = $20,174.
• Shares owned after transaction: not specified in this Form 4.
• Relevant footnotes:
  • F1: These were time‑based RSUs that vested (part of a grant vesting in five equal annual installments starting Mar 1, 2023). Vested shares to be delivered within 30 days.
  • F2: 480 shares were withheld to satisfy tax withholding on the 2,000 vested RSUs.
  • F3: Each RSU equals one share of common stock.
  • F4/F5: Additional RSU awards noted with different vesting schedules (three equal annual installments starting Mar 6, 2025 and Mar 15, 2026) — these refer to other grants, not the vested 2,000 RSUs.
• Transaction codes explained: M = conversion/exercise of a derivative (RSU conversion here); F = shares withheld to cover tax obligations.

Context
This was not a purchase or a sale in the open market but the routine vesting/conversion of RSUs. Withholding shares to cover taxes is a common administrative step and does not necessarily indicate the insider is buying or selling stock for investment reasons.