Niemietz Kurt A. 4

What Happened
Kurt A. Niemietz, Vice President Investor Relations & Treasurer of Kirby Corp (KEX), reported the conversion/vesting of restricted stock units (RSUs) on February 3, 2026. The filing shows 1,656 shares acquired upon conversion (reported at $0.00 per share), and the company withheld 693 shares to satisfy tax withholding obligations, valued at $120.68 per share for a total withholding of $83,631. The filing also lists several other RSU conversion/disposition line items (455, 416, 418, and 367 shares) reported as disposals with $0 value per the form.

Key Details

• Transaction date: February 3, 2026; Form 4 filed February 5, 2026 (filed within the normal two-business-day window).
• Primary conversion: 1,656 shares reported acquired at $0.00 (RSU vesting/conversion).
• Tax withholding: 693 shares withheld at $120.68/share = $83,631 (code F — payment of tax liability).
• Additional derivative entries: disposals of 455, 416, 418 and 367 shares reported as $0 disposals (per filing lines).
• Shares owned after the transactions: not specified in the supplied filing excerpt.
• Footnotes: these are RSUs granted in 2022–2025 that vest in five equal annual installments (deliverable as cash or shares at the issuer’s election).

Context
This was a routine RSU vesting and tax-withholding event (M = conversion/exercise of derivative; F = tax withholding). The withholding of shares to cover taxes is a common cashless settlement of compensation and does not necessarily indicate a market-sale decision by the insider. These filings are compensatory (not open-market purchases or voluntary sales) and should be viewed as routine executive compensation administration rather than a direct bullish or bearish signal.