Salmons Ryan D 4

What Happened
Ryan D. Salmons, Latch's Chief Product & Technology Officer, was granted 500,000 restricted stock units (RSUs) on 2026-06-12 (reported on Form 4). The RSUs were granted at $0.00 per share (an award, code A). As part of the vesting/settlement, 59,895 shares were withheld by the issuer to satisfy tax withholding obligations (code F) at $0.20 per share, totaling $11,979. This filing reflects an equity compensation award and routine tax withholding — not an open-market buy or sale tied to trading sentiment.

Key Details

• Transaction dates: Grant approved 2026-06-12; Form 4 filed 2026-06-16 (filing shows late indicator L).
• Grant: 500,000 RSUs (code A) — each RSU represents a contingent right to one share upon vesting.
• Withholding: 59,895 shares withheld to satisfy taxes (code F) at $0.20/share = $11,979.
• Vesting: RSUs vest over a three-year period commencing December 31, 2024 — one-third vested on the first anniversary and the remainder in substantially equal quarterly installments over the next two years (per footnote).
• Shares owned after transaction: not specified in the provided Form 4.
• Footnotes: F1 describes the RSU grant and vesting schedule; F2 confirms shares withheld to satisfy tax obligations under Rule 16b-3.
• Filing timeliness: The Form 4 was filed 4 days after the reported transaction date and is marked late (L).

Context: This is an equity compensation grant (RSUs) rather than a market purchase or sale. The withholding of shares to cover taxes is a routine administrative action when RSUs vest/settle and should not be interpreted as a separate discretionary sale by the insider.