Gleason Todd R 4

What Happened

• Todd R. Gleason, CEO of CECO Environmental Corp., was granted equity awards and had shares withheld to cover taxes. On 2026-03-15 he was credited with 75,055 performance share units (acquired at $0). Also on 2026-03-15, 29,535 shares were withheld/disposed at $54.85 per share to satisfy tax withholding (value ≈ $1,619,995). On 2026-03-16 he was credited with an additional 17,563 performance-based restricted stock units (derivative awards, acquired at $0). These were awards/vests rather than open-market purchases or voluntary sales.

Key Details

• Transaction dates and prices:
  • 2026-03-15: +75,055 performance share units (A) at $0.00
  • 2026-03-15: -29,535 shares withheld (F) at $54.85; proceeds ≈ $1,619,995 (net settlement for taxes)
  • 2026-03-16: +17,563 performance-based RSUs (A, derivative) at $0.00
• Total awards credited: 75,055 + 17,563 = 92,618 new award shares/units.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1 = performance share units earned; F2 = shares withheld for net settlement to cover tax liability on vesting; F8/F10-type notes indicate some awards are performance-based RSUs that convert to common stock in the future subject to continued employment and stock-price targets.
• Filing timeliness: the Form 4 was filed with accession on 2026-03-17 for transactions dated 2026-03-15–03-16; the filing does not indicate a late report.

Context

• This was primarily issuance of performance-based awards and the routine withholding of shares to cover taxes (not an open-market sale for cash). Net share withholding to cover taxes is common when restricted stock or RSUs vest and does not necessarily indicate the insider is selling for investment reasons. The derivative entries reflect contingent awards that convert to shares only if vesting/performance conditions are met.