Bell Blake R 4

What Happened Blake R. Bell, President, Global Business Development at Expeditors International of Washington (EXPD), received 17,190 shares of common stock on February 25, 2026 as the settlement of a 2023 performance share unit (PSU) award (no cash purchase price). To satisfy tax withholding related to the settlement, 6,839 of those shares were withheld by the company at an implied value of $138.83 per share, resulting in approximately $949,458 withheld.

Key Details

• Transaction dates: February 25, 2026 (award settlement and share withholding); filing date: February 26, 2026 (appears timely).
• Award: 17,190 shares acquired at $0.00 (PSU settlement; includes Dividend Equivalent Rights per footnote).
• Tax withholding: 6,839 shares disposed/withheld at $138.83 each = ~$949,458.
• Shares owned after transaction: Not specified in the Form 4 provided.
• Footnotes: F1 — shares are from settlement of a 2023 PSU Award for the 2025 performance year (includes dividend equivalents). F2 — shares were withheld by the issuer to satisfy the tax withholding obligation; the award was issued net of tax.
• Transaction codes: A = Award/Grant/Acquisition; F = Tax withholding share disposition.

Context This was a PSU settlement (award), not an open-market purchase or an opportunistic sale. Withholding shares to cover taxes is routine for equity award settlements and does not necessarily indicate a change in the insider’s market view. The filing shows the award settlement and corresponding tax-withholding transaction rather than a voluntary sale.