Tiano Vincent J. 4

What Happened

• Vincent J. Tiano, Chief Revenue Officer of Miller Industries (MLR), had 3,316 time‑based restricted stock units (RSUs) vest on March 15, 2026. Those RSUs converted into shares; 778 of the shares were withheld to satisfy tax withholding (778 x $43.88 = $34,139), leaving 2,538 shares delivered net. The filing also shows a grant of 6,140 additional time‑based RSUs (awarded, not vested immediately).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026.
• Vested/conversion: 3,316 RSUs converted to shares (treated as derivative conversion).
• Tax withholding: 778 shares withheld at $43.88/share to cover taxes = $34,139.
• Net shares delivered to insider: 2,538 (3,316 vested − 778 withheld).
• Grant: 6,140 RSUs awarded (time‑based; $0 acquisition price as typical for RSUs).
• RSU facts: Each RSU equals a contingent right to one share. The vested RSUs were part of a time‑based schedule (vesting in three equal annual installments commencing March 15, 2026). The new 6,140 RSUs have their own time‑based vesting schedule per the filing.
• Shares owned after transaction: Not specified in the provided filing details.
• Filing timeliness: Report filed two days after the vesting date (no late filing indicated in the provided details).

Context

• This was not an open‑market buy or sale; it was the vesting/conversion of RSUs and a subsequent share‑withholding to cover tax obligations (a common administrative action, not necessarily a market sentiment signal).
• The 6,140‑RSU grant is an award subject to future vesting; it does not represent immediate ownership of shares.