Butler Chuck Douglas 4

What Happened Chuck Douglas Butler, Chief Financial Officer of Xerox Holdings Corp (XRX), reported an exercise/conversion of a derivative security (transaction code M) that resulted in 449,438 shares on May 20, 2026. The filing shows an exercise/conversion price of $0.00 and lists the shares as "Disposed" with $0 in proceeds. This was a conversion/exercise event rather than an open-market purchase.

Key Details

• Transaction date: 2026-05-20; Form 4 filed: 2026-05-22 (timely).
• Transaction type/code: M — Exercise or conversion of derivative.
• Shares involved: 449,438; reported price: $0.00; reported proceeds: $0.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnote (F1): The underlying award is a restricted stock unit (RSU) award that vests in nine installments — one-third (33.33%) vests on March 11, 2027, and the remainder vests equally over the following eight quarters.
• No 10b5-1 plan, tax-withholding detail, or late-filing indication is provided in the excerpt.

Context

• A $0.00 exercise/conversion typically indicates conversion of RSUs or similar stock units into shares rather than exercising stock options for cash. The filing’s "Disposed" designation with $0 proceeds often reflects non-sale transfers (for example, shares withheld to satisfy taxes or other internal transfers), but the Form 4 excerpt does not specify the reason.
• Because the filing doesn't show proceeds or a market sale, this transaction is not a clear bullish buy signal for investors; it documents an internal conversion event by the CFO. For full detail (exact post-transaction ownership, reason for disposition, and any tax withholding), review the complete Form 4 filing (Accession No. 0001193125-26-237286).