Kanan Ibrahim 4

What Happened

• Kanan Ibrahim, a Portfolio Manager, converted/settled 250.628 derivative phantom shares and the economic value was paid out to the issuer on January 30, 2026. The disposition shows a price of $23.24 per share, for proceeds of $5,825 (250.628 x $23.24). This was a cash settlement of a phantom-share award rather than an open-market sale of previously held shares.

Key Details

• Transaction date: January 30, 2026.
• Actions reported: M (exercise/conversion of derivative) and D (disposition to issuer); 250.628 shares involved.
• Price and proceeds: $23.24 per share; total reported proceeds $5,825.
• Shares owned after transaction: Not specified in the excerpt provided.
• Notable footnotes: F1 explains a "phantom share" is the economic equivalent of one share and is payable in cash on vesting. F2 states these phantom shares were granted Jan 31, 2025 and vest in equal installments on each of the first three anniversaries.
• Filing: Form 4 filed Feb 3, 2026 (covers activity on Jan 30, 2026).

Context

• This transaction appears to be a cash settlement of a phantom-share award on vesting (a common form of compensation), not an open-market sale of stock. Cash-settled derivative conversions typically reflect compensation payout rather than insider market sentiment.