BADGLEY JEFFREY I 4

What Happened

• Jeffrey I. Badgley, President, International and Military of Miller Industries (MLR), had 2,893 time‑based restricted stock units (RSUs) vest on March 6, 2026. The RSUs converted into shares (transaction code M).
• To satisfy tax withholding, 678 of the vested shares were withheld (transaction code F) at an indicated price of $45.96, resulting in $31,161 withheld. The net shares expected to be delivered are 2,215 (2,893 vested − 678 withheld). The implied value of the total vested shares at $45.96 is about $132,962.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (timely filed).
• Conversions: 2,893 RSUs converted to shares (code M). Tax withholding: 678 shares withheld at $45.96 for $31,161 (code F).
• Net shares to be delivered: 2,215 (2,893 − 678). The filing does not list total shares beneficially owned after the transaction.
• Relevant footnotes:
  • F1: These were time‑based RSUs that vested on March 6, 2026; vested shares will be delivered within 30 days.
  • F2: 678 shares were withheld to cover tax obligations on the vesting.
  • F3: Each RSU equals one share of common stock.
  • F4/F5: Other footnotes describe different RSU grants and vesting schedules referenced in the filing.
• Transaction codes: M = exercise/conversion of derivative (here, RSU conversion); F = withholding to cover taxes.

Context

• This was not an open‑market purchase or sale — it was the scheduled vesting and conversion of RSUs. Withholding shares for taxes is a routine administrative action and does not necessarily indicate a change in insider sentiment.
• The filing shows a conversion of RSUs (not an option exercise for cash) and appears to be a standard vesting event with shares to be delivered within 30 days.