KEATING NEAL J. 4

What Happened

• Neal J. Keating, a director of Hexcel Corp. (HXL), reported the conversion/exercise of 254 derivative awards on 2026-05-13. The Form 4 records an acquisition of 254 shares at $0.00 and a simultaneous disposition of 254 shares at $0.00 (transaction code M for exercise/conversion).
• The filing shows no cash paid for the acquisition (acquisition price $0.00). The report does not show sale proceeds or a market sale; both entries are recorded at $0.00.

Key Details

• Transaction date: 2026-05-13; Form 4 filed: 2026-05-14 (timely filing).
• Reported amounts: 254 shares acquired at $0.00; 254 shares disposed at $0.00 (both coded M).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: F1 — each restricted stock unit (RSU) represents a conditional right to one share; F2 — RSUs vest on the earlier of the first anniversary of the grant date or immediately prior to the next annual meeting and then convert to shares.
• No 10b5-1 plan, broker sale details, or cash proceeds are indicated in the excerpt.

Context

• This appears to be the vesting/conversion of RSUs into common shares (a non-cash award settlement) rather than an open-market purchase or sale. Filings that show $0.00 for both acquisition and disposition often reflect internal conversion/settlement or withholding arrangements; the Form 4 here does not specify the post-conversion disposition details.
• Such routine RSU vesting/conversions are common for directors and do not by themselves indicate a trading decision or change in investment stance.