Szabo Shandell 4

What Happened

• Director Szabo Shandell reported the vesting/settlement of 17,759 restricted stock units (RSUs) on March 10, 2026. The RSUs converted with no exercise price (derivative conversion). Per the award election, 60% of the RSUs were settled in shares and 40% were settled in cash. The filing shows a cash settlement (reported as a disposition to the issuer) of 7,104 units at $12.94 each for $91,926. No cash payment was required to convert the RSUs (exercise price $0).
• This is an award/vesting event (not an open-market purchase). Such settlements are typically routine compensation rather than a directional trading signal.

Key Details

• Transaction date: March 10, 2026; filing date: March 12, 2026 (filed within the typical 2-business-day Form 4 window).
• RSUs vested: 17,759 units; cash portion: 7,104 units × $12.94 = $91,926 (reported). Share portion: 60% of 17,759 ≈ 10,655 shares issued to the reporting person (approximate, based on the 60/40 settlement election in the footnote).
• Exercise/Conversion code: M (derivative conversion/vesting) with $0 exercise price; Disposition code D for the cash-settled portion.
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote: The RSUs were granted March 10, 2025 under the company’s long-term incentive plan and vested March 10, 2026; 60% settled in shares and 40% in cash per the reporting person’s settlement election.

Context

• For retail investors: this is a compensation-related vesting and partial cash settlement of RSUs. The reported $91.9K reflects the cash portion of the award; the remainder was settled in stock. Such filings document insider compensation and tax/cash-settlement activity and do not by themselves imply buying or selling conviction.