Orsel Karin Y 4

What Happened

• Director Orsel Karin Y received five grants of restricted stock units (RSUs) on 2026-03-18, for a total of 855.85 RSUs (177.26; 138.58; 191.88; 141.83; 206.30). Each grant is reported at $0.00 because these are equity awards/derivative grants rather than open‑market purchases. Under the RSU terms, each RSU represents the right to receive one share of common stock (or cash in the Compensation Committee’s discretion) upon vesting.

Key Details

• Transaction date: March 18, 2026; filing date: March 20, 2026 (filed within the typical 2-business-day Form 4 window).
• Price: $0.00 per RSU (award/grant; no cash paid at grant).
• Grant breakdown: 177.26; 138.58; 191.88; 141.83; 206.30 RSUs — total 855.85 RSUs.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes from the filing:
  • F1: Each RSU = right to one common share or cash at vesting.
  • F2–F5: Certain referenced RSUs previously vested on May 16, 2022; May 16, 2023; May 23, 2024; and May 20, 2025.
  • F6: Some RSUs vest on the earlier of the next annual shareholders meeting after May 20, 2025 or 14 months after the grant date.
  • F7: Some RSUs were additional awards granted in lieu of cash dividends on underlying RSUs (dividend equivalents).
• No indication this was a sale, gift, or option exercise—this is an equity compensation award.

Context

• RSU grants are compensation or dividend-equivalent awards, not purchases with personal cash; they represent future shares only after vesting and thus are not the same signal as an open‑market purchase.
• Additional RSUs granted in lieu of dividends simply reflect dividend-equivalent adjustments to existing RSU holdings.
• The filing appears timely (filed two days after the transaction date).