Olsen Jonathan S. 4

What Happened

• Jonathan S. Olsen, EVP & CFO of Invitation Homes (INVH), received two restricted stock unit (RSU) awards on March 1, 2026 totaling 215,453 RSUs (25,627 + 189,826). These awards were reported as acquisitions (code A) with $0 purchase price.
• In connection with vesting-related tax obligations, 4,940 shares were surrendered/withheld (codes F) on March 1, 2026 at a reference price of $26.34, generating a withholding value of $130,120 (34,163 + 37,535 + 58,422).
• These share withholdings were to satisfy tax withholding obligations and are not open-market sales of additional shares.

Key Details

• Transaction dates: March 1, 2026; Form 4 filed March 3, 2026 (timely).
• Price used for withholding calculation: $26.34 (closing price on Feb 27, 2026, per filing).
• Shares withheld for taxes: 4,940 shares; total value of withheld shares ≈ $130,120.
• RSU vesting schedules noted in footnotes:
  • One grant (25,627 RSUs) vests in three equal annual installments beginning March 1, 2027 (F1).
  • The larger grant (189,826 RSUs) vests in two installments: 65% on March 1, 2029 and 35% on March 1, 2030 (F4).
• Footnote F2 confirms the 4,940-share disposition was withholding to satisfy tax obligations.
• The filing does not disclose Olsen’s total shares owned after these transactions in this Form 4.

Context

• These transactions are primarily equity compensation (RSU grants). The small share disposals were for tax withholding, not indicative of a discretionary open-market sale.
• For retail investors, grants indicate future potential ownership if vesting conditions are met; they are routine for executives and not necessarily a bullish or bearish signal by themselves.