Vivaldi Coelho Rogerio 4

What Happened

• Director Vivaldi Coelho reported the conversion/exercise of vested restricted stock units (RSUs) on March 6, 2026 and an additional RSU award. Specifically, 23,660 and 1,175 RSUs were converted/ exercised (total 24,835 shares) at $0 per share. On the same date, matching amounts (23,660 and 1,174.492 shares; total ~24,834.492) were recorded as dispositions with $0 proceeds (derivative dispositions). In addition, a grant/award of 15,890 RSUs was recorded (acquired at $0). All reported dollar amounts for these transactions are $0.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (filing appears late vs. the typical 2‑business‑day Section 16 window).
• Prices and totals: all entries show $0.00 per share and $0 total proceeds/value (typical for RSU vesting/conversion and tax withholding/surrender transactions).
• Shares involved: conversions/exercises = 23,660 + 1,175 = 24,835 shares; dispositions = 23,660 + 1,174.492 = 24,834.492 shares; new award = 15,890 RSUs.
• Post‑transaction holdings: not specified in the supplied summary of the filing.
• Notable footnotes:
  • F1: fractional shares rounded up in settlement.
  • F2: the RSUs converted on March 6, 2026 vested in full on that date.
  • F3: dividend equivalent units (DEUs) accrued on prior RSUs (March 6, 2025 grants) and were exempt under Rule 16a‑11.
  • F4: the 15,890 RSU award will vest on March 6, 2027.

Context

• These entries reflect RSU vesting/conversion activity (derivative code M) and an RSU grant (A). Dispositions recorded with $0 proceeds commonly represent shares surrendered to the company to satisfy tax withholding or similar settlement mechanics rather than an open‑market sale; the filing itself treats them as derivative dispositions. The new 15,890 RSU award vests in 2027 per the footnote. The filing date suggests a late report, which investors may note as a compliance/timeliness issue but does not by itself indicate trading intent.