Naylor Maile 4

What Happened
Maile Naylor, a director of Leslie's, acquired 4,500 restricted stock units (RSUs) on 2026-03-24. The transaction is reported as a derivative conversion (code M) with an acquisition price of $0.00 (total reported value $0), reflecting a grant/award of RSUs rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-24; Form 4 filed 2026-03-26 (appears timely).
• Transaction code: M (exercise/conversion of a derivative), reported as acquiring 4,500 units at $0.00.
• What was granted: 4,500 RSUs — each RSU is the contingent right to receive one share upon vesting (see footnote).
• Vesting: RSUs vest on the earlier of (a) March 24, 2027 or (b) the day before the 2027 annual meeting, subject to continuous board service.
• Shares owned after transaction: Not specified in the provided filing details.
• No indication of immediate sale or cashless exercise; this is a compensation award, not an open-market trade.

Context
RSUs are a form of equity compensation: they do not convert into actual shares until they vest, so this transaction does not immediately increase sellable shares. Because the filing shows a grant with $0 paid, treat this as a board compensation award rather than a purchase that signals personal investment.