Sunbelt Rentals CEO Brendan Horgan Sells 3,700 Shares for Taxes

What Happened

• Brendan Horgan, CEO of Sunbelt Rentals (SUNB), received an award of 196 dividend-equivalent units tied to outstanding RSUs (acquired 9/18 at $0.00). The next day (9/19) 3,700 shares were disposed/withheld at $73.59 per share to satisfy tax withholding obligations, totaling approximately $272,283. The acquisition is reported under code A (award/grant); the disposition is reported under code F (tax withholding/payment).

Key Details

• Transaction dates: 2026-09-18 (award) and 2026-09-19 (shares withheld/disposed).
• Prices and values: 196 shares @ $0.00 (award); 3,700 shares @ $73.59 = $272,283 (withheld/sold).
• Footnotes: F1 = dividend equivalent units accrue on RSUs and will vest/settle with the underlying RSUs; F2 = shares were withheld upon RSU vesting to pay taxes.
• Filing: Form 4 filed 2026-09-22 reporting a 9/18–9/19 transaction period. Form 4s are generally due within two business days of the transaction, so this filing appears to have been submitted after that window.
• Shares owned after transaction: not specified in the provided summary—see the full Form 4 for total post-transaction ownership.

Context

• This was not an open-market sale for investment purposes but a routine tax-withholding disposition tied to RSU vesting (a common practice where the company withholds shares to satisfy tax obligations). The award of dividend-equivalent units simply accrues the right to receive shares with the underlying RSUs when they vest.