Horgan Kyle 4
4 · Sunbelt Rentals Holdings, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Sunbelt Rentals (SUNB) EVP Kyle Horgan Receives Stock Awards
What Happened
Kyle Horgan, Executive Vice President, Specialty at Sunbelt Rentals (SUNB), reported receiving a total of 95,075 shares/awards via grants and a share exchange tied to the company’s recent corporate transitions and listing. The Form 4 shows: 64,580 shares reported on Feb 27 (includes conversion of Ashtead shares and restricted stock units), 27,380 performance stock units reported on Mar 2 (performance condition deemed satisfied), and 3,115 derivative deferred stock units reported on Feb 27. No cash purchase or open-market trade was involved; many of these awards are subject to future vesting or cash settlement.
Key Details
- Transaction dates: Feb 27, 2026 (64,580 and 3,115 units) and Mar 2, 2026 (27,380 PSUs). Form 4 filed Mar 3, 2026 (Accession 0001193125-26-088631).
- Prices: N/A — these were awards/allocations and an in-kind exchange, not market purchases. No cash paid or received for the Ashtead → Sunbelt exchange.
- Total reported: 95,075 shares/units (64,580 + 27,380 + 3,115).
- Ownership after transaction: Not specified in the supplied filing details.
- Notable footnotes:
- F1: 56,254 shares came from a one-for-one exchange of Ashtead Group plc ordinary shares owned by Horgan; no cash exchanged.
- F2: 8,326 restricted stock units (RSUs) included in the Feb 27 grant; staggered vesting through July 2028.
- F3: 27,380 performance stock units (PSUs) — performance conditions were deemed satisfied on Mar 2, 2026 (linked to SUNB’s NYSE listing); these PSUs vest over 2026–2028.
- F4: 3,115 deferred stock units (derivative) vest Apr 30, 2026 and are settled solely in cash (economic equivalent of shares).
- Filing timeliness: Form filed Mar 3, 2026; the filing shows the transactions and related footnotes (no late-filing notation provided in the summary data).
Context
- These transactions are awards/conversions tied to corporate actions (Ashtead scheme of arrangement and Sunbelt’s NYSE listing) and compensation programs — not open-market insider buying or selling.
- RSUs and PSUs grant rights to future shares contingent on vesting schedules; PSUs here had their performance condition satisfied but will vest on scheduled future dates.
- Deferred stock units are derivative and will be cash-settled, so they do not necessarily increase outstanding shares when settled.
- For retail investors, awards and in-kind exchanges typically reflect corporate restructuring and compensation mechanics rather than a direct insider bet on the stock price.
Insider Transaction Report
Form 4
Horgan Kyle
Executive VP, Specialty
Transactions
- Award
Common Stock
[F1][F2]2026-02-27+64,580→ 64,580 total - Award
Common Stock
[F3]2026-03-02+27,380→ 91,960 total - Award
Deferred Stock Units
[F4]2026-02-27+3,115→ 3,115 total→ Common Stock (3,115 underlying)
Footnotes (4)
- [F1]Includes 56,254 shares of common stock of the Registrant acquired in exchange for ordinary shares of Ashtead Group plc ("Ashtead") beneficially owned by the Reporting Person, upon completion of the scheme of arrangement effected by Ashtead, the Registrant's predecessor, under Part 26 of the UK Companies Act 2006. The exchange ratio was one-to-one and no cash consideration was paid or received.
- [F2]Includes 8,326 restricted stock units, of which 1,509 will vest on June 20, 2026; 1,770 will vest on July 4, 2026; 1,508 will vest on June 20, 2027; 1,770 will vest on July 4, 2027; and 1,769 will vest on July 4, 2028. Each restricted stock unit represents a contractual right to receive one share of common stock of the Registrant.
- [F3]Represents performance stock units ("PSUs"), each representing a contractual right to receive one share of common stock of the registrant. The performance conditions of the PSUs were deemed satisfied on March 2, 2026, in connection with the Registrant's initial listing on the New York Stock Exchange and as further discussed in the Registrant's Registration Statement on Form 10/A filed on February 13, 2026. Of such PSUs, 7,758 will vest on June 19, 2026; 9,030 will vest on June 20, 2027; and 10,592 will vest on July 4, 2028.
- [F4]Represents deferred stock units which will vest on April 30, 2026. Each deferred stock unit is the economic equivalent of one share of the Registrant's common stock and is settled solely in cash.
Signature
/s/ Abbey MacDonald, Attorney-in-Fact|2026-03-03