Macadam Stephen E. 4

What Happened

• Stephen E. Macadam, a director of Louisiana‑Pacific Corporation (LPX), was granted 1,863 restricted stock units (RSUs) on May 8, 2026. The grant price was $0.00 (standard for RSU awards), so there was no cash outlay. The RSUs vest in full on May 8, 2027 and, per the reporting person’s election, will convert to deferred stock units (DSUs) that pay out one share per DSU at separation of service or upon a change of control.
• The Form 4 (filed May 11, 2026) shows the reporting person holds a total of 7,525 DSUs after the grant (this total includes 68 DSUs credited as dividend equivalents since the last filing).

Key Details

• Transaction date: 2026-05-08; Filing date: 2026-05-11 (timely).
• Transaction type/code: Award/Grant (A); amount: 1,863 RSUs; price reported: $0.00.
• Shares/units held after transaction: 7,525 DSUs (includes 68 dividend-equivalent DSUs).
• Footnotes: F1 — RSUs vest 5/8/2027 and will convert to DSUs per the director’s deferral election; DSUs pay one share per unit upon separation or change of control. F2 — 68 DSUs reflect dividend equivalents credited since last Form 4.
• Not a sale or open‑market purchase; this is routine director compensation, not an immediate cash or market transaction.

Context

• RSUs/DSUs are deferred compensation: they represent a contingent right to future shares rather than immediate stock ownership. Grants to non‑employee directors are common as part of board compensation and should be viewed as routine unless unusually large.