LEWIS MICHAEL THOMAS STEVEN 4

What Happened

• Michael Lewis, Chief Operations Officer of RB Global (RBA), had RSUs/DERs vest and converted to common-stock equivalents in mid-March 2026. The filing shows conversion/exercise events totaling 5,094 derivative shares (multiple RSU/DER tranches). To satisfy tax withholding, 1,855 shares were surrendered at $98.68 ($183,051) and 738 shares at $97.91 ($72,258), a total tax-withholding value of $255,309. After withholding, roughly 2,501 shares remain to be issued to Lewis (5,094 converted − 2,593 withheld).

Key Details

• Transaction dates: grant reported 2026-03-13 (4,277 RSUs awarded); RSUs/DERs vested and were converted on 2026-03-14. Withholding sales also reported 2026-03-14. Form filed 2026-03-17 (timely).
• Prices and values: withholding disposals: 1,855 shares @ $98.68 = $183,051; 738 shares @ $97.91 = $72,258; total ~$255,309. Conversion/exercise entries show $0 cash proceeds for the derivative settlement (typical for RSU/DER settlement).
• Shares owned after transaction: not specified in this filing.
• Transaction codes: A = award/grant (RSUs), M = exercise/conversion of derivative, F = shares surrendered for tax withholding.
• Footnotes: RSUs and DERs each represent contingent rights to one RBA common share. The 2024 and 2025 RSUs/DERs vested on March 14, 2026 and will be settled in common shares issued to the reporting person net of applicable taxes.

Context

• This is a routine vesting/settlement of restricted share units and derivative awards, with a cashless tax-withholding (shares surrendered to cover taxes). RSU/DER conversions reported as derivative exercises (not open-market purchases or sales for investment). Such withholding transactions are standard and do not necessarily signal a change in the insider’s view of the company.