Chawla Mandeep 4
4 · CELESTICA INC · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Celestica CFO Mandeep Chawla Sells Shares for $28.6M
What Happened
Mandeep Chawla, Chief Financial Officer of Celestica Inc. (CLS), had vested equity (PSUs/RSUs) converted on Feb 2, 2026 and shares were withheld/sold to satisfy tax withholding obligations. Specifically, 191,056 derivative units were exercised/converted (183,674 + 7,382). To cover tax withholding, 98,321 shares were withheld/disposed at $279.78 (≈ $27,508,249) and 3,952 shares were withheld/disposed at $280.99 (≈ $1,110,472), totaling ~102,273 shares and roughly $28.6M. On Feb 3, 2026 Chawla was also granted 4,630 RSUs.
Key Details
- Primary dates: Feb 2, 2026 (conversion/withholding transactions), Feb 3, 2026 (RSU grant).
- Major monetary amounts: 98,321 shares @ $279.78 = $27,508,249; 3,952 shares @ $280.99 = $1,110,472 (prices converted from CAD to USD per filing footnote).
- Derivative activity: 183,674 and 7,382 units were reported as exercised/converted (Form 4 code M). Related dispositions at $0 are listed as derivative/administrative reporting entries.
- Tax withholding: Footnote indicates shares were withheld to satisfy tax obligations arising from RSU/PSU vesting (F1).
- Performance vesting: PSUs were deemed earned at 200% of target and shares issued following vest on Jan 31, 2026 (F4).
- Grant: 4,630 RSUs granted Feb 3, 2026; these RSUs vest ratably over three years (F7).
- Shares owned after transaction: Not specified in the provided filing.
- Timeliness: Filing dated Feb 3, 2026 for transactions on Feb 2, 2026 — appears timely (no late filing indicated).
Context
This was primarily a vesting/conversion event followed by share withholding to pay taxes (common routine), not an open‑market sale for investment purposes. Code M indicates conversion/exercise of derivatives (here, RSUs/PSUs converting to common shares); Code F indicates shares withheld/used to pay tax withholding. These kinds of withholding sales are administrative and do not necessarily signal executive sentiment about the company.
Insider Transaction Report
- Exercise/Conversion
Common Shares
2026-02-02+183,674→ 193,157 total - Tax Payment
Common Shares
[F1][F2]2026-02-02$279.78/sh−98,321$27,508,249→ 94,836 total - Exercise/Conversion
Common Shares
2026-02-02+7,382→ 102,218 total - Tax Payment
Common Shares
[F1]2026-02-02$280.99/sh−3,952$1,110,472→ 98,266 total - Exercise/Conversion
Performance Share Units
[F3][F4]2026-02-02−183,674→ 0 totalFrom: 2026-01-31→ Common Shares (183,674 underlying) - Exercise/Conversion
Restricted Share Units
[F5][F6]2026-02-02−7,382→ 7,383 total→ Common Shares (7,382 underlying) - Award
Restricted Share Units
[F5][F7]2026-02-03+4,630→ 4,630 total→ Common Shares (4,630 underlying)
Footnotes (7)
- [F1]Shares withheld to satisfy tax withholding obligations arising out of the vesting of restricted share units ("RSUs") or performance share units ("PSUs"), as applicable.
- [F2]The price reported was converted from Canadian dollars to U.S. dollars using the Bank of Canada exchange rate on the transaction date.
- [F3]Each PSU represents a contingent right to receive one common share or an equivalent value in cash.
- [F4]Reflects PSUs deemed earned upon Human Resources and Compensation Committee certification of the achievement of pre-established performance parameters at 200% of the target. The common shares underlying these PSUs were issued to the reporting person following the vest on January 31, 2026.
- [F5]Each RSU represents a contingent right to receive one common share or an equivalent value in cash.
- [F6]On February 2, 2024, the reporting person was granted 22,148 RSUs, which vest ratably over a three-year period on each of the first and second anniversaries of the grant date and on December 1 following the second anniversary of the grant date.
- [F7]On February 3, 2026, the reporting person was granted 4,630 RSUs, which vest ratably over a three-year period on each of the first and second anniversaries of the grant date and on December 1 following the second anniversary of the grant date.