MADONIA FRANK 4

What Happened

• Frank Madonia, Executive Vice President, Secretary & General Counsel of Miller Industries (MLR), received 2,893 time‑based restricted stock units (RSUs) that vested on March 6, 2026. The RSUs converted into 2,893 common shares (derivative conversion, code M).
• To cover tax withholding, 678 shares were withheld (code F) at $45.96 per share, yielding $31,161 withheld. Net shares delivered to Madonia: 2,215 (2,893 vested − 678 withheld). The gross value of the vested shares at $45.96 was about $132,962.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (filed within the typical two-business‑day window).
• Prices/values: withholding price $45.96; withholding proceeds $31,161; gross value of vested shares ≈ $132,962.
• Transaction codes: M = conversion of derivative (RSU vesting), F = shares withheld for tax withholding.
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Notable footnotes from the filing:
  • F1: The conversion represents time‑based RSUs vesting in three equal annual installments (first vesting here on 3/6/2026); vested shares to be delivered within 30 days.
  • F2: 678 shares withheld to satisfy tax withholding on the 2,893 vested RSUs.
  • F3: Each RSU equals the right to receive one share of common stock.
  • (Other footnotes in the filing reference different RSU grants/vesting schedules not directly tied to this vesting event.)

Context

• This was not an open‑market purchase or sale but a scheduled vesting of time‑based RSUs with a net‑share settlement to satisfy taxes (common routine executive compensation event). Such vesting events are typically administrative and do not by themselves signal an insider buying or selling for market sentiment reasons.