Grzebinski David W 4

What Happened
David W. Grzebinski, Chief Executive Officer and Director of Kirby Corporation (KEX), was granted 20,185 restricted stock units (RSUs) on January 30, 2026. The Form 4 reports the grant as an award/acquisition (code A) at $0.00 (typical for RSU grants). These RSUs are a derivative award that represent a contingent right to receive cash or shares in the future.

Key Details

• Transaction date: 2026-01-30; reported as an award (A) at $0.00 per unit.
• Quantity: 20,185 restricted stock units (derivative instrument).
• Vesting: Grants vest in five equal annual installments beginning February 3, 2027. Cash or shares, at the issuer’s election, will be delivered on or as soon as practicable on each vesting date.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — each RSU represents a contingent right to cash or one share; F2 — vesting and delivery mechanics described above.
• Filing timeliness: Filing date is February 3, 2026 for a transaction on January 30, 2026; filing does not appear to be marked late in the provided data.

Context
RSU grants are a common form of executive compensation and do not transfer voting or saleable shares until vested and settled. Because the company may settle these units in cash or stock at vesting, the ultimate share dilution (or cash payout) will depend on the company’s election at each vesting date. This award is an acquisition of compensation units rather than an open-market purchase or sale.