Clarke Ronald 4

What Happened

• Ronald Clarke, CEO and Chairman of Corpay, exercised 100,000 stock options on May 21, 2026 at a strike price of $150.74 per share (exercise cost = $15,074,000).
• The filing shows 68,487 shares were withheld/disposed to cover tax liability at $347.46 per share (value = $23,796,493) and a derivative disposition of 100,000 shares is also reported (listed at $150.74, $15,074,000).
• This sequence reflects an option exercise with shares withheld to satisfy tax/withholding obligations and an associated disposition of shares.

Key Details

• Transaction date: 2026-05-21; Form 4 filed 2026-05-22 (covers May 21 transactions).
• Option exercise (Code M): 100,000 shares at $150.74/share (acquired — $15,074,000).
• Tax withholding / payment (Code F): 68,487 shares withheld/surrendered at $347.46/share (disposed — $23,796,493). Footnote F1: withholding of securities to pay tax liability in accordance with Rule 16b-3.
• Derivative disposition (Code M): 100,000 shares listed as disposed at $150.74/share ($15,074,000).
• Shares owned after the transaction: not provided in the excerpt of the filing.
• Filing timeliness: filed the day after the transaction date (appears timely, not marked late).

Context

• This is an option exercise with sell-to-cover tax withholding (common practice): options were exercised and a portion of shares were withheld/surrendered to pay taxes; the filing also reports a disposition of 100,000 shares tied to the exercise.
• Such transactions are procedural (tax payment/option exercise) rather than a straightforward open-market buy or sell signal; they don't by themselves indicate Clarke’s longer-term view of the stock.