DRAGG RONALD A 4

What Happened

• Ronald A. Dragg, Vice President and Controller of Kirby Corp (KEX), had 887 restricted stock units convert/vest on January 24, 2026. The RSUs show an acquisition at $0.00 (no cash exercise price).
• To cover tax withholding, 263 shares were surrendered/disposed at $128.70 per share, totaling $33,848. Net shares delivered to Dragg after withholding: 624 shares (887 gross − 263 withheld).
• This appears to be routine vesting of RSUs with shares withheld for taxes rather than an open-market sale.

Key Details

• Transaction date(s): January 24, 2026; Form 4 filed January 27, 2026 reporting those transactions.
• Reported entries: M (exercise/conversion of derivative) — 887 shares acquired at $0.00; F (payment of tax liability) — 263 shares disposed at $128.70 ($33,848).
• Net shares received: 624 (887 gross vested − 263 withheld for taxes). The filing does not state total shares owned after the transactions.
• Footnotes: F1 notes each restricted stock unit (RSU) is a contingent right to receive cash or one share. F2 notes these RSUs were granted Jan 29, 2021 and vest in five equal annual installments beginning Jan 24, 2022; the issuer can elect to deliver cash or shares.
• No indication in the filing that this was a late submission.

Context

• This is a standard RSU vesting event with a cashless tax withholding (shares withheld/sold to satisfy taxes), not a discretionary open-market sale. Such withholdings are common and typically reflect tax obligations rather than a change in insider sentiment.
• For retail investors: purchases or open-market buys by insiders often carry more informational weight; routine vesting and tax-withholding transactions are administrative and frequent for compensation-linked awards.