REDDIN THOMAS 4

What Happened
Director Thomas Reddin reported vesting/conversion activity on 2026-04-23. The filing shows 10,349 restricted stock units (derivative) converted into shares (code M, acquired) at $0.00 (value $0) and a matching 10,349 derivative reported as disposed (code M, disposed) at $0.00 (value $0). In addition, he acquired 5,286 restricted stock units (code A, derivative) awarded under the Non-Employee Director Stock and Deferral Plan at $0.00 (value $0). These entries reflect awards/vesting and not an open-market cash purchase.

Key Details

• Transaction date: 2026-04-23; Form 4 filed 2026-04-27 (timely filing).
• Reported items:
  • M (exercise/conversion): 10,349 shares acquired @ $0.00 (vesting/conversion of RSUs).
  • M (exercise/conversion): 10,349 shares disposed @ $0.00 (matching disposition reported same day).
  • A (award/grant): 5,286 RSUs acquired @ $0.00 (derivative units deferred).
• Shares owned after the transactions: not specified in the filing.
• Footnotes: F1 notes these transactions reflect vesting and one-for-one conversion of previously awarded RSUs. F2 notes the 5,286 units are deferred RSUs under the Non-Employee Director Stock and Deferral Plan and will convert to shares on director-specified deferred dates.

Context
"Exercise/conversion of derivative" here means RSUs vested and converted into common shares. The filing shows a conversion and a same-day matching disposition of the converted units; the Form 4 does not explain the purpose of that disposition. These entries are routine director equity compensation (vesting and deferred awards) rather than a market buy or an explicit sale for proceeds.