Horgan Brendan 4
4 · Sunbelt Rentals Holdings, Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Sunbelt Rentals (SUNB) CEO Brendan Horgan Receives Stock Awards
What Happened
Brendan Horgan, CEO of Sunbelt Rentals (NYSE: SUNB), was credited with a total of 740,291 shares through awards/acquisitions reported Feb 27–Mar 2, 2026. The filings show: 469,979 shares credited on Feb 27, 257,422 shares credited on Mar 2, and a 12,890-share derivative award recorded on Feb 27. No cash was paid for the exchanged shares and listed per-share prices are N/A because these were grants/exchanges (compensation and conversion of predecessor shares), not open‑market purchases.
Key Details
- Transaction dates: Feb 27, 2026 (469,979 and 12,890 (derivative)); Mar 2, 2026 (257,422). Filing date: Mar 3, 2026 (timely).
- Prices/consideration: N/A — awards/grants and an in‑kind exchange; 419,000 of the shares arise from a 1:1 exchange of Ashtead Group plc ordinary shares (no cash).
- Breakdown of award types / notable footnotes:
- F1: 419,000 shares received in exchange for Ashtead ordinary shares on a one‑for‑one basis (no cash).
- F2: 50,979 restricted stock units (RSUs); vesting schedule spans Jul 4 & Sep 19 of 2026–2028 in specified tranches.
- F3: Performance stock units (PSUs) were deemed satisfied on Mar 2, 2026; PSU vesting schedule: 48,946 (Jun 19, 2026), 96,486 (Jun 20, 2027), 111,990 (Jul 4, 2028).
- F4: 12,890 deferred stock units (derivative) vest Apr 30, 2026; these are cash‑settled equivalents of shares.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Filing timeliness: Report filed Mar 3, 2026 covering transactions through Mar 2, 2026 — appears timely.
Context
These were compensation/conversion transactions (awards and an in‑kind exchange tied to the company’s formation and NYSE listing), not open‑market buys or sales. PSUs were treated as satisfied in connection with Sunbelt’s initial NYSE listing; RSUs and some PSUs remain subject to future vesting schedules. Deferred stock units noted as "derivative" are cash‑settled and do not immediately deliver shares. Such awards are routine for executives and reflect compensation and corporate restructuring rather than direct insider buying or selling in the market.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-27+469,979→ 469,979 total - Award
Common Stock
[F3]2026-03-02+257,422→ 727,401 total - Award
Deferred Stock Units
[F4]2026-02-27+12,890→ 12,890 total→ Common Stock (12,890 underlying)
Footnotes (4)
- [F1]Includes 419,000 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 50,979 restricted stock units, of which 9,356 will vest on July 4, 2026; 7,637 will vest on September 19, 2026; 9,356 will vest on July 4, 2027; 7,637 will vest on September 19, 2027; 9,356 will vest on July 4, 2028; and 7,637 will vest on September 19, 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, 48,946 will vest on June 19, 2026; 96,486 will vest on June 20, 2027; and 111,990 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.