Bell Blake R 4

What Happened

• Blake R. Bell, President, Global Business Development at Expeditors (EXPD), had RSUs/DERs vest on May 7, 2026. A total of 2,932 contingent units converted to common shares (2,863 + 69).
• To satisfy tax withholding, 1,085 shares were disposed/withheld at $151.24 per share, yielding $164,095. The remaining net shares retained by Bell from the vesting were 1,847 (2,932 vested − 1,085 withheld).
• This was not an open-market sale of personally held shares but a routine withholding to cover tax obligations on vested awards.

Key Details

• Transaction date: May 7, 2026; Form 4 filed May 11, 2026 (filed within required two business days).
• Converted/Acquired: 2,932 shares via exercise/conversion of DER/RSU awards (codes M in filing).
• Withheld/Disposed for taxes: 1,085 shares at $151.24 each = $164,095 (code F).
• Net shares received/retained from the vesting: 1,847 shares.
• Footnote: RSUs and DERs each represent a contingent right to the economic equivalent of one common share; these awards vested on May 7, 2026.
• Filing timeliness: Timely (transaction 5/7/2026; filing 5/11/2026).

Context

• This is a common, routine insider event: award units vested and the company withheld shares to satisfy tax withholding (a "sell-to-cover" or share-withholding), not an indicator of a discretionary open-market sale.
• Transaction codes: M = exercise/conversion of derivative award; F = payment of exercise price or tax liability (share withholding).