Chawla Mandeep 4

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.