ARMSTRONG ALAN S 4

What Happened

• Alan S. Armstrong, a director of Williams Companies, Inc. (WMB), was granted 108,836 restricted stock units (RSUs) on February 18, 2026. The award is reported as a derivative acquisition at $0.00 per share (no cash purchase). The grant is performance-based and the final payout can range from 0% to 200% of the awarded units.

Key Details

• Transaction date: 2026-02-18; Filing date: 2026-02-20 (filed within the Form 4 two-business-day window).
• Awarded units: 108,836 RSUs; reported price: $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote F1: Vesting and payout depend on Compensation & Management Development Committee certification of performance vs targets; metrics are return on capital employed and available funds from operations per share (each 50% weight), with a relative TSR modifier that can +/-25% the calculated result.
• Footnote F2: The unit count reflects an adjustment to the 2023 performance-based RSU grant due to performance above target.
• No indication of a sale, purchase, gift, or tax-withholding in this transaction; it is a compensation award.

Context

• These are performance-based RSUs (derivative awards). They do not represent immediate cash proceeds or an open-market purchase/sale by the insider and will only convert to shares (and potentially be paid out) if performance criteria are met and the committee certifies results.
• Such awards are routine for executives and directors as part of compensation programs; they are not direct indicators of near-term buying or selling activity.