Prejean Robert Wayne 4

What Happened

• Robert Wayne Prejean, CEO of Drilling Tools International Corp (DTI), received equity awards and converted/exercised a derivative into common stock. On Feb 27, 2026 he was granted 85,721 restricted stock units (RSUs) and 257,162 performance stock units (PSUs) under the 2026 long-term incentive program. On Feb 28, 2026 he recorded the exercise/conversion of 71,090 derivative shares. All reported transactions show an exercise/grant price of $0.00 and reported dollar value of $0.

Key Details

• Transaction dates: Grants on Feb 27, 2026; exercise/conversion on Feb 28, 2026.
• Reported prices/values: $0.00 per share for the grants and conversion; total reported value $0.
• Vesting and conditions:
  • RSUs: Each RSU converts to one share. A separate earlier RSU grant (from Feb 28, 2025) vests in equal installments over four years. The 85,721 RSUs granted Feb 27, 2026 vest in substantially equal installments on each of the first three anniversaries of the grant, subject to continued service.
  • PSUs: Each PSU converts to one share subject to EBITDA-based performance over a three-year performance/vesting period; threshold pays 50% and maximum pays 200% of target.
  • Options/derivatives: Footnotes indicate stock options referenced have fully vested.
• Shares owned after transaction: The filing excerpt does not specify the total shares owned by the reporting person following these transactions.
• Filing timeliness: The Form 4 was filed Mar 12, 2026 for transactions dated Feb 27–28, 2026. This is later than the standard two-business-day reporting window for insiders (the filing is marked late).
• Related-party note: The filer may be deemed to have voting/dispositive power over shares held by Robjon Holdings, L.P.; the reporting person disclaims beneficial ownership of those shares except for any pecuniary interest.

Context

• RSUs and PSUs are awards, not open-market purchases—RSUs convert to shares on vesting and PSUs pay out only if performance targets are met, so these grants do not represent an immediate cash investment by the insider. The conversion/exercise reported at $0 suggests a non‑cash conversion or issuance; there is no documented open-market sale or purchase in this filing. As always, grants and conversions are administrative/compensation events and should not be read alone as a bullish or bearish signal.