Bjorkquist Jeanette M 4

What Happened Jeanette M. Bjorkquist, the company’s Principal Financial Officer and Principal Accounting Officer, received a grant of 6,500 restricted stock units (RSUs) on March 29, 2026 (no cash paid). On March 30, 2026 she disposed of 312 shares at a weighted-average price of $26.65 (proceeds ~$8,315) and 16 shares at a weighted-average price of $27.49 (proceeds ~$440), for total proceeds of about $8,755. The sales were reported as open-market dispositions.

Key Details

• Grant: 6,500 RSUs granted on 2026-03-29 (acquisition price reported $0). RSUs vest in four equal annual installments on 3/29/2027, 3/29/2028, 3/29/2029 and 3/29/2030 (F1).
• Sales: 312 shares at $26.65 (weighted avg; individual trade prices ranged $26.35–$27.26) and 16 shares at $27.49 (weighted avg; range $27.39–$27.84) on 2026-03-30 (F5, F6). Total proceeds ≈ $8,755.
• Purpose of sales: Sell-to-cover to satisfy tax withholding on RSU vesting/settlement; mandated by company administrative rule and not a discretionary sale (F4, tax withholding = F).
• Grant composition & contingency: The 6,500 RSUs represent 65% of Bjorkquist’s annual equity grant; the remaining 35% is contingent on shareholder approval to increase the plan’s authorized shares (F2).
• Administrative note: Filing corrects a prior reporting error (300 fewer shares than previously reported) (F3).
• Filing timeliness: Transaction dates 3/29–3/30/2026; Form 4 filed 3/31/2026 (appears timely).

Context

• This filing combines an equity award (RSUs) and small open-market sales used solely to cover tax obligations. Such “sell-to-cover” transactions are routine administrative actions and do not necessarily indicate intent to reduce exposure to the company. The RSUs will convert to shares only as they vest, at which point additional tax withholding or transactions could occur.