Tiano Vincent J. 4

What Happened

• Vincent J. Tiano, Chief Revenue Officer of Miller Industries, had 2,000 time-based restricted stock units (RSUs) vest on March 1, 2026. Those RSUs converted into 2,000 shares of common stock. To cover tax withholding obligations, 480 of those shares were withheld (disposed) at $42.03 per share, totaling $20,174. The net shares delivered to Tiano were 1,520 (approximately $63.9k at $42.03/share).

Key Details

• Transaction date: March 1, 2026 (reported on Form 4 filed March 3, 2026).
• Primary codes: M = exercise/conversion of derivative (RSU conversion); F = shares withheld to cover tax obligations.
• Withheld shares: 480 shares @ $42.03 each = $20,174.
• RSU conversion: 2,000 RSUs → 2,000 shares; net delivered 1,520 shares.
• Footnotes: F1–F3 confirm these were time-based RSUs (one RSU = one share) vesting in equal installments; F2 explains withholding to cover taxes. Other footnotes (F4, F5) reference additional time-based RSU schedules.
• Shares owned after the transaction: not specified in the provided excerpt.
• Filing timeliness: filing date suggests timely reporting (no late filing indicated).

Context

• This was not an open-market purchase or a sale for cash gain — it was the routine vesting and conversion of RSUs with shares withheld to satisfy tax withholding. For retail investors, such award vestings are common executive compensation events and do not necessarily signal a change in insider sentiment. The Form 4 shows conversion of derivatives (RSUs), not an exercised option sold for cash.