Culley Brian M 4

What Happened

• Brian M. Culley, President, CEO and Director of Lineage Cell Therapeutics (LCTX), had 31,250 restricted stock units (RSUs) vest and convert into 31,250 common shares on Feb 11, 2026. To satisfy statutory tax withholding, the issuer withheld 12,869 of those shares at $1.80 per share for a withholding value of $23,164. The filing shows conversion/exercise (code M) and a tax-withholding disposition (code F).

Key Details

• Transaction date: Feb 11, 2026; Form 4 filed Feb 13, 2026 (timely).
• Conversion: 31,250 RSUs vested and converted into 31,250 shares (code M).
• Tax withholding: 12,869 shares withheld at $1.80/share = $23,164 (code F). Filing notes no open‑market sale of shares in connection with the withholding.
• Footnotes: These RSUs were part of a 124,997‑RSU grant dated Feb 11, 2022 that vests ~25% each year (F4). RSUs convert one‑for‑one into common shares (F1). The filing also reports a conversion/disposition line of 31,250 shares at $0 consistent with RSU settlement mechanics (see footnotes).
• Shares owned after the transaction: not specified in the provided filing details.

Context

• This was an award/vesting event (not an open‑market buy or sell). The issuer withheld shares to cover withholding taxes (a common cashless withholding method) rather than the insider selling shares on the open market.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting here); F = payment of exercise price or tax liability (tax withholding).
• Such vesting and withholding are routine compensation events and do not, by themselves, indicate a buy/sell signal from the insider.