Netto Armando Lins 4

What Happened
Armando Lins, Group President (Brazil & U.S. Vehicle Payments) at CORPAY (CPAY), exercised stock options to acquire 70,476 shares on June 15, 2026 and immediately sold those 70,476 shares in an open market transaction. The exercises were in four tranches: 513 shares at $196.18 ($100,640), 13,259 shares at $200.41 ($2,657,236), 36,704 shares at $225.45 ($8,274,917) and 20,000 shares at $231.70 ($4,634,000), for an aggregate exercise cost of $15,666,793. The 70,476 shares were sold at $352.13 each for proceeds of $24,816,770.

Key Details

• Transaction date: June 15, 2026; Form 4 filed June 16, 2026 (not marked late).
• Exercise detail (acquired): 513 @ $196.18 = $100,640; 13,259 @ $200.41 = $2,657,236; 36,704 @ $225.45 = $8,274,917; 20,000 @ $231.70 = $4,634,000.
• Sale detail (disposed): 70,476 shares sold in open market @ $352.13 = $24,816,770.
• The filing shows corresponding derivative conversion/disposition entries at $0.00, reflecting the options were converted/exercised.
• Shares owned after the transaction: not disclosed in this filing.
• No 10b5‑1 plan or tax‑withholding details are reported in the filing.

Context
The Form 4 shows option exercise (transaction code M) followed by an immediate open‑market sale of the same shares — a common "cashless" pattern where exercised shares are sold to cover exercise costs, taxes, or for liquidity. The sale proceeds ($24.82M) exceeded the aggregate exercise cost ($15.67M) by about $9.15M based on the reported figures. This report is factual about the transactions and does not indicate the insider’s motives.