BINZ JOSEPH LEO 4

What Happened Joseph L. Binz, a director of Donnelley Financial Solutions, Inc. (DFIN), was granted 3,924 restricted stock units (RSUs) on July 1, 2026. The filing lists no purchase price (grant award — code A); the grant is compensation, not a market buy or sale, so no immediate cash value is reported. The RSUs are payable in shares of common stock on May 13, 2027 (the first anniversary of the 2026 annual meeting) or earlier if he leaves the board. The filing was submitted on July 6, 2026 (reported late).

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 6, 2026 (late filing).
• Grant: 3,924 restricted stock units (RSUs). No per-share price or aggregate value reported.
• Vesting/payment: Payable in common shares on May 13, 2027 or upon cessation of directorship; Binz may elect to defer payment until he leaves the board (per footnote).
• Plan: RSUs issued under a Rule 16b-3 plan (footnote confirms grant type).
• Shares owned after transaction: Not specified in the Form 4.

Context RSUs are a form of equity compensation that convert to shares when they vest or when settlement conditions are met; this grant signals director compensation rather than a buy/sell decision by the insider. Because no price or fair-market value was provided in the filing, the economic value of the award equals the number of shares at settlement multiplied by DFIN’s share price at that time. The late filing does not change the nature of the award but may be noted by regulators or investors monitoring insider reporting timeliness.