ANTOIAN EDWARD N 4

What Happened

• Edward N. Antoian, a director of Urban Outfitters, exercised 20,000 stock options on 2026-05-22 at an exercise price of $23.74 per share, for a total exercise cost of $474,800 (reported under code M). To satisfy the exercise price and related tax withholding, 6,459 shares were withheld/disposed at $73.51 each (code F) — value $474,801. The filing also shows the related derivative security (the options) recorded as disposed at $0.00 (code M) as part of the conversion. Net result: Antoian acquired 13,541 shares (20,000 − 6,459).

Key Details

• Transaction date: 2026-05-22. Filing date: 2026-05-26 (4 days after the transaction).
• Exercise: 20,000 shares @ $23.74 = $474,800 (code M, acquisition).
• Withholding/tax payment: 6,459 shares @ $73.51 = $474,801 (code F, disposition to cover exercise/taxes).
• Derivative converted/cancelled: 20,000 derivative shares @ $0.00 (code M, disposition).
• Net shares added: +13,541 shares. Total shares held after the transaction are not included in the provided excerpt.
• No 10b5-1 plan or late-filing flag was provided in the data you supplied.

Context

• This was an option exercise with share withholding (a common “cashless” method where some newly issued or existing shares are surrendered to cover exercise costs and taxes). The derivative (the option) being reported as disposed at $0.00 reflects the option conversion/cancellation on exercise. Such exercises are routine insider transactions; the net result is a share acquisition rather than a market sale.