Massaro Joseph R 4

What Happened

• Joseph R. Massaro, Vice Chair & President, received two equity awards on April 22, 2026: 41,933 shares and 62,898 performance shares, for a total of 104,831 shares. Both awards were granted at a $0.00 price (awards, not open-market purchases), so no cash was paid at grant. These are awards/conditional rights rather than immediate stock purchases or sales.

Key Details

• Transaction date: 2026-04-22; grant price: $0.00 (award).
• Award totals: 41,933 shares (time-based award) and 62,898 performance shares — total 104,831 shares.
• Vesting: time-based portion vests in three equal installments beginning February 28, 2027 (F1). Performance shares vest only if specified performance criteria are met during Jan 1, 2026–Dec 31, 2028 (F3).
• Adjustment: totals reflect an adjustment to outstanding awards due to the spin-off of Versigent PLC (F2).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing timeliness: no late-filing indication in the provided data (file appears timely).

Context

• Performance shares are contingent rights that convert to ordinary shares only if performance goals are met over the stated performance period; they are not immediate cash or sellable stock until vested/earned.
• These grants are routine executive compensation/retention tools and do not by themselves signal insider buying or selling.