ADAMS ALBERT T 4

What Happened

• Director Albert T. Adams received a grant of 22,960 restricted stock units (RSUs) on May 14, 2026. On May 15, 2026 a total of 16,942 RSUs converted into Class A common stock (shown as derivative exercises/conversions at $0.00). The conversions are recorded as acquisitions of shares at no cash cost because they reflect vesting/settlement of award units, not an open‑market purchase.

Key Details

• Grant date: May 14, 2026 — 22,960 RSUs awarded (reported as acquired, derivative).
• Vesting/conversion date: May 15, 2026 — 16,110 and 832 RSUs converted to shares (total 16,942) shown as exercised/converted at $0.00.
• Price: $0.00 per share (conversion of RSUs to common stock; no cash purchase).
• Shares owned after the transaction: Not specified in the provided filing.
• Footnotes of note:
  • F1/F2: Each RSU and Dividend Equivalent Right represents a contingent right to one share, subject to continued service.
  • F3: Confirms shares underlying the RSUs vested on May 15, 2026.
  • F4: Dividend equivalent rights vest proportionately with the RSUs.
  • F5: States RSUs vest on the first anniversary of the transaction date (the filing indicates some units vested immediately on May 15).
• Timeliness: Form filed May 18, 2026; the transaction dates are May 14–15, 2026 (filing date shown in the report).

Context

• These entries involve derivative awards (RSUs) converting into shares upon vesting. The $0.00 amounts reflect settlement of RSUs, not a cash purchase or sale. Some lines in the filing show both an "acquired" and a "disposed" entry for the same derivative amounts—this reflects conversion/termination of the derivative instrument, not a sale of underlying shares.
• RSU grants and subsequent vesting are commonly part of director compensation and do not by themselves indicate the director is buying (bullish) or selling (bearish) company stock.