ANGEL STEPHEN F 4

What Happened
Stephen F. Angel, a director of Linde plc, exercised derivative awards to acquire 7,248.579 ordinary shares on 2026-01-20. To satisfy tax withholding related to the payout, 2,552.269 of those shares were surrendered at an implied value of $440.04 per share, totaling $1,123,100. The exercise/conversion was reported as a 1-for-1 conversion of the derivative into ordinary shares.

Key Details

• Transaction date: January 20, 2026. Filing date: January 21, 2026 (timely filing).
• Exercise/acquisition: 7,248.579 shares (derivative exercise, code M).
• Tax/payment withholding: 2,552.269 shares withheld (code F) at $440.04/share = $1,123,100.
• Derivative disposition: The derivative awards underlying the 7,248.579 shares were converted/terminated (reported as disposed).
• Relevant footnotes: F16 = 1-for-1 conversion to ordinary shares; F2 = ordinary shares withheld to pay taxes.
• Shares owned after transaction: Not specified in the information provided in this summary — see the Form 4 for post-transaction holdings.

Context
This was an exercise of vested derivative awards with shares withheld to cover tax obligations (a routine cashless/withholding settlement), not an open-market sale. Such withholding is common and does not necessarily indicate a change in the director’s view of the company.