McMahon Neal 4

What Happened
Neal McMahon, Chief Operating Officer of Ryanair DAC, had Restricted Stock Units (RSUs) convert into 30,706 ordinary shares of Ryanair Holdings PLC on May 19, 2026. The Form 4 records an exercise/conversion of a derivative (transaction code M) for 30,706 shares; no sale price or cash proceeds are reported (price = N/A), indicating this was a settlement of an award rather than an open‑market sale.

Key Details

• Transaction date: May 19, 2026 (reported on Form 4 filed May 21, 2026).
• Transaction type/code: M = exercise/conversion of derivative (RSU settlement).
• Shares acquired: 30,706; Derivative disposition entry also shows 30,706 (reflecting conversion/settlement).
• Price/Proceeds: N/A — no cash sale reported on the filing.
• Shares owned after transaction: not disclosed in the provided data.
• Footnotes: F1 — the RSUs convert 1:1 to common stock. F2 — the RSUs were granted March 9, 2023 and vested on May 19, 2026 after performance conditions were met.
• Timeliness: Filed May 21, 2026 to report a May 19 transaction (appears timely).

Context
This transaction represents vested RSUs converting into shares (an award settlement), not a market purchase or sale. Such conversions typically reflect previously granted compensation becoming exercisable/settled and do not by themselves signal insider buying or selling intent. For retail investors, outright purchases by insiders can be more informative about conviction than routine award settlements.