Singh Prahlad R. 4

What Happened
Prahlad R. Singh (President, Chief Executive Officer and Director) exercised stock options to acquire 25,525 shares at $92.09 per share (cost ≈ $2,350,597) and conducted multiple share dispositions over Feb 4–5, 2026 that generated roughly $2.90M in proceeds. Separately, 3,421 shares were surrendered to cover tax withholding (value ≈ $345,966). Mr. Singh also received grants/awards of restricted stock units totaling 103,443 shares (26,796 + 76,647) reported as acquisitions at $0 (RSUs).

Key Details

• Transaction dates: Feb 4–5, 2026; Form 4 filed Feb 6, 2026 (timely filing).
• Option exercise: 25,525 shares exercised at $92.09 (≈ $2.35M cash paid).
• Cash sales/dispositions (open market & tax withholding): total proceeds ≈ $2.90M, individual weighted-average prices ranged about $98.98–$103.03 across multiple trades.
  • Tax withholding surrender: 3,421 shares @ $101.13 = $345,966 (surrender to satisfy RSU tax) (F2).
  • Market sales: several blocks (1,307; 12,186; 7,885; 3,079; 1,068 shares) at weighted-average prices shown in filing (F5–F9).
• Grants/awards reported: 26,796 and 76,647 RSUs (reported as acquisitions @ $0); RSUs/options generally vest in three equal annual installments per footnotes (F1, F3, F11).
• Sales were effected pursuant to a 10b5-1 trading plan adopted Feb 6, 2025 (F4).
• Shares owned after transaction: not specified in the excerpt — see the Form 4 for total post-transaction holdings.

Context

• This was essentially an option exercise followed by share sales (common “exercise and sell” pattern). The exercise required cash (~$2.35M) and many of the acquired shares were subsequently sold under a preplanned 10b5-1 program; some shares were surrendered to cover tax withholding on vested RSUs.
• Grants/RSUs reported here are time‑based awards with multi-year vesting (not immediate open‑market purchases), so the awards themselves do not signal an immediate buy.
• The presence of a 10b5-1 plan indicates the sales were prearranged; filing appears timely (filed two days after the reported transactions).

For full line‑by‑line details, including exact per‑trade prices and post‑transaction holdings, consult the filed Form 4 (Accession 0001193125-26-041158).