Thaysen Jacob 4

What Happened Jacob Thaysen (CEO) converted 13,264 performance-based units into common shares on 2026-02-12 (reported on Form 4 filed 2026-02-17). No cash was paid to exercise the units (exercise price $0). To satisfy tax withholding, 5,470 of those shares were surrendered at an effective price of $114.44 per share, totaling $625,987. That leaves 7,794 shares retained by Thaysen from this conversion (13,264 − 5,470 = 7,794).

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17.
• Converted/exercised: 13,264 shares (derivative conversion, code M) at $0 exercise price.
• Tax withholding: 5,470 shares surrendered (code F) at $114.44 per share = $625,987.
• A derivative disposition of 13,264 units at $0 is also reported, reflecting the conversion to common stock.
• Shares owned after the transaction: not specified in the excerpt of the filing provided.
• Footnote: The shares represent stock awarded after the company achieved at least 74% of applicable performance criteria for performance share units granted on October 5, 2023.

Context This was not an open-market sale for cash gain but a routine conversion/vesting of performance share units with shares withheld to cover tax liabilities (a common practice). For retail investors, such conversions indicate performance-based pay vesting rather than a directional buy/sell signal by the insider.