Sandstrom Katherine M 4

What Happened
Katherine M. Sandstrom, a director of Janus Living, acquired a total of 21,000 Class A-1 shares on 2026-03-23. Transactions reported: 13,500 shares purchased at $20.00 each for $270,000 (private/underwriter purchase), plus 2,500 vested shares granted in connection with the IPO and 5,000 restricted stock units (RSUs) granted as annual director compensation (both shown at $0 acquisition price). These were acquisitions (not sales).

Key Details

• Transaction date: 2026-03-23; Form 4 filed 2026-03-24 (timely filing).
• Purchase: 13,500 shares at $20.00 each = $270,000 (Footnote F3: shares purchased from underwriters in the IPO).
• Awards/grants: 2,500 vested shares from the IPO (F1) and 5,000 RSUs as director compensation (F2) shown at $0 acquisition price.
• Shares owned after the transactions: not specified in the provided filing.
• No indication of a 10b5-1 plan or tax-withholding sale in this filing; transactions are acquisitions and awards.

Context

• The 5,000 RSUs convert one-for-one into Class A-1 shares upon vesting; they vest in full on the earliest of the first anniversary of the grant, the next annual meeting following the grant, or upon death/disability (per F2).
• The 2,500 shares reflect a vested IPO grant (F1). The 13,500-share purchase was from underwriters at the $20 IPO price (F3) rather than a post-IPO open-market buy.
• For retail investors: insider purchases are often watched as a positive signal, but awards and IPO allocations can reflect compensation or allocation practices rather than directional market bets. This Form 4 reports acquisitions, not dispositions.