Etienvre Yann L 4

What Happened
Yann Etienvre, Chief Operations Officer of Celestica Inc. (CLS), had performance/restricted share units convert to common shares and then disposed of a large portion on February 2, 2026. Specifically, 166,955 shares were issued/converted (reported as derivative exercises at $0), of which 86,229 shares were sold in open-market transactions at $287.45 each (proceeds $24,786,526) and 80,726 shares were withheld to satisfy tax-withholding obligations at the same price (treated as dispositions totaling $23,204,688). A separate grant of 4,209 RSUs was reported on February 3, 2026.

Key Details

• Transaction dates: conversions and dispositions dated February 2, 2026; new RSU grant dated February 3, 2026. Filing date: February 3, 2026 (timely).
• Sale prices: open-market sales at $287.45 per share.
• Open-market sales: 82,705 shares for $23,773,552 and 3,524 shares for $1,012,974 (total 86,229 shares, $24,786,526).
• Tax withholding disposals: 77,421 shares for $22,254,666 and 3,305 shares for $950,022 (total 80,726 shares, $23,204,688).
• Derivative conversions: 160,126 and 6,829 shares reported as exercised/converted (acquired at $0), totaling 166,955 shares. Some of these converted shares were immediately disposed of (cashless-like).
• New grant: 4,209 RSUs granted Feb 3, 2026 that vest ratably over three years (footnote F6).
• Notable footnotes: PSUs were certified at 200% of target (F3) and shares underlying those PSUs were issued following vesting (F3). Shares were withheld to satisfy tax obligations (F1).
• Shares owned after the transaction: Not specified in the provided filing details.

Context

• This sequence is typical of RSU/PSU vesting followed by a cashless process: shares are issued from awards (derivative conversion), taxes are satisfied by withholding a portion, and remaining shares may be sold on the open market.
• The filing shows neither a purchase nor a new long-term accumulation—mostly conversions and disposals tied to compensation vesting and tax obligations.
• Filing appears timely (transactions 2026-02-02; Form 4 filed 2026-02-03).