Legence (LGN) CAO Philippe Le Bris Exercises Options, Sells Shares

What Happened

• Philippe Le Bris, Chief Accounting Officer of Legence Corp. (LGN), exercised 4,196 option shares on 2026-09-15 by paying $28.00 per share (total exercise cost $117,488). He sold the 4,196 shares the same day in an open-market sale at $54.06 per share for $226,836 in proceeds. Separately, 341 shares were withheld to satisfy tax withholding obligations related to RSU vesting (valued at $18,083). The filing also records the option-to-share conversion (derivative) related to the exercise.

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-17 (appears within the usual two-business-day deadline).
• Exercise: 4,196 shares @ $28.00 = $117,488 (code M).
• Sale: 4,196 shares @ $54.06 = $226,836 (code S).
• Tax withholding: 341 shares @ $53.03 = $18,083 withheld to cover taxes on RSU vesting (code F; footnote F2).
• Derivative conversion: 4,196 shares recorded as converted from options (reported as $0 in derivative line).
• Plan/automation: Sale occurred under a Rule 10b5-1 trading plan adopted 06/16/2026 (footnote F1).
• Vesting/option terms: Options vest in three substantially equal installments (first vested 9/11/2026); options expire 9/11/2035 (footnote F3).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context

• This was an exercise followed by an immediate sale (a cashless or sell-on-exercise outcome): the insider converted options to shares and sold them the same day. The sale appears automated under a pre-established 10b5-1 plan, which typically schedules trades in advance and reduces questions about timing or intent.
• For retail investors: purchases typically carry more weight as a bullish signal; this filing documents an option exercise and sale (realizing gains), not a fresh purchase of shares.