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BWX Technologies, Inc.·4

Mar 3, 4:19 PM ET

MacQuarrie John R. 4

Research Summary

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Updated

BWXT President John MacQuarrie Exercises Awards; Shares Sold for Taxes

What Happened

  • John R. MacQuarrie, President, Commercial Operations of BWX Technologies (BWXT), had equity awards convert into 7,969 shares (exercise/conversion code M) on Feb 27–28, 2026. The converted awards carried no cash exercise price ($0.00) because these were restricted/performance stock units. To satisfy tax withholding (code F), 4,261 shares were surrendered/withheld at prices of $207.24 and $205.98, generating approximately $882,736 in tax-withholding value (321 @ $207.24 = $66,524; 3,691 @ $207.24 = $764,923; 249 @ $205.98 = $51,289).
  • These were not open-market purchases or discretionary sales — they reflect award vesting/conversion and share withholding to satisfy tax obligations.

Key Details

  • Transaction dates: Feb 27, 2026 and Feb 28, 2026. Relevant filing date: Mar 3, 2026 (Form 4).
  • Prices: tax withholding occurred at $207.24 and $205.98 per share; exercise/conversion price shown as $0.00 (RSUs/PRSUs converting to common stock).
  • Shares acquired (converted): 7,969. Shares withheld/disposed for taxes: 4,261. Net newly issued shares to the insider after withholding: 3,708 (7,969 − 4,261). (The filing does not provide total shares owned after the transactions.)
  • Footnotes: F1 & F3 = RSUs with multi-year vesting schedules and dividends converted into shares at the noted prices; F2 = performance RSUs (PRSUs) awarded 2/27/2023 for 2023–2025 performance, certified 2/18/2026 and vested 2/27/2026. The disposed shares reflect tax withholding (code F).
  • Transaction codes: M = exercise/conversion of derivative security (here, RSUs/PRSUs); F = payment of exercise price or tax liability (share withholding). This filing appears timely (within the two-business-day Form 4 reporting window).

Context

  • This was effectively a vesting/conversion event with shares withheld to cover taxes (a common, administrative action), not an open-market sale that would signal a decision to liquidate.
  • PRSUs vested only after performance goals were certified (footnote F2), so those shares resulted from achievement of performance targets covering 2023–2025.