MALONE MICHAEL W 4

What Happened
Director Michael W. Malone received a grant of 20,325 restricted stock units (RSUs) on May 21, 2026. The award was reported as an acquisition (code A) at $0.00 per RSU (no cash exchanged at grant). The RSUs represent a contingent right to one share of Class A common stock each and vest in full on the first anniversary of the grant (subject to continued board service).

Key Details

• Transaction date: 2026-05-21 (reported on Form 4 filed 2026-05-26).
• Transaction type/code: Award/Grant (A) — 20,325 RSUs at $0.00.
• Vesting: RSUs vest in full on the first anniversary of the grant, subject to continued service. (Footnote: each RSU = right to one share of Class A common stock.)
• Shares owned following the transaction: not specified in the provided filing.
• Timeliness: Form 4 was filed five days after the reported transaction date; Form 4s are generally required within 2 business days, so this filing appears later than the typical deadline.

Context
RSU grants are a common form of compensation/retention for executives and directors and are not an open‑market purchase or sale. They do not by themselves indicate immediate buying or selling sentiment since shares are delivered only upon vesting (or other settlement). Late filings reduce prompt transparency for investors and can carry regulatory scrutiny, but the grant itself is a routine compensation action.