Grzebinski David W 4

What Happened

• David W. Grzebinski, CEO and Director of Kirby Corp (KEX), had 8,150 restricted stock units convert into shares on January 24, 2026. The conversion is reported as an exercise/conversion of a derivative (code M).
• To satisfy tax withholding, 3,244 of those shares were withheld (disposed) at an implied value of $128.70 per share, totaling $417,503 (transaction code F). The remaining shares were delivered to Grzebinski.

Key Details

• Transaction date: January 24, 2026; Form 4 filed January 27, 2026.
• Conversion: 8,150 RSUs vested/converted into shares (code M) at $0.00 exercise price (reflecting RSU conversion, not a paid option).
• Withholding: 3,244 shares withheld for taxes (code F) at $128.70/share, $417,503 total.
• Footnotes: F1 clarifies each restricted stock unit (RSU) represents a contingent right to cash or one share. F2 notes these RSUs were granted Jan 29, 2021 and vest in five equal annual installments beginning Jan 24, 2022; issuer may deliver cash or shares at its election.
• Shares owned after the transaction: not specified in the supplied summary of the filing.
• Filing timeliness: Form filed Jan 27, 2026 (period of report Jan 24, 2026); the filing itself does not indicate a late-report designation in the provided data.

Context

• This was not an open-market sale by the insider but a routine RSU vesting with shares withheld to cover tax obligations (a common "cashless" or share-withholding settlement). Such withholding is administrative and does not necessarily reflect the insider’s view of the company’s stock.
• The primary action is the vesting/conversion of RSUs (derivative conversion), followed by tax-related share withholding.