MALLETT CONRAD L JR 4

What Happened Conrad L. Mallett Jr., a director of Lear Corporation (LEA), converted 66 deferred stock units into 66 shares of Lear common stock on February 20, 2026. The Form 4 reports an exercise/conversion (code M) with an acquisition of 66 shares at $0.00 and a corresponding disposition of a derivative instrument for 66 shares at $0.00 — i.e., no cash was paid or received in the conversion. This was a routine conversion of deferred director compensation into company shares, not an open-market purchase or sale.

Key Details

• Transaction date: February 20, 2026 (reported on Form 4 filed February 23, 2026).
• Transaction type/code: Exercise/conversion of derivative (M).
• Shares acquired: 66 common shares at $0.00; derivative disposed: 66 units at $0.00.
• Consideration/value: $0 cash exchanged in the conversion (deferred stock units converted to shares).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: The deferred stock units were accrued under the Lear Corporation Outside Directors Compensation Plan and converted per the reporting person’s deferral election; each deferred stock unit equals one share (F1–F3).
• Filing note: A prior Form 4 filed May 16, 2025 contained an incorrect deferral date; the correct date for this conversion should have been February 20, 2026 (clarified in the remarks).

Context This transaction converts director compensation previously deferred as stock units into common shares and is typically administrative/routine rather than a market-timing trade. Because no cash changed hands and the units simply converted to shares, it should not be read as a buy/sell signal about the director’s view of Lear’s stock.