GERO JAMES 4

What Happened

• James Gero, a director of LCI Industries (LCII), exercised/converted a total of 13,637 derivative units (code M) on May 12, 2026. The transactions show acquisitions of 1,761 and 11,876 shares at $112.42 each (total acquired value $1,533,072) and matching dispositions of the same lots at the same price/values.
• The matching acquisition and disposition entries indicate the derivatives were converted into shares and then immediately disposed of (commonly reported for cashless or same‑day sales). This is effectively an exercise/conversion followed by immediate sale, rather than a long‑term buy signal.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (timely filing).
• Price: $112.42 per share. Acquired: 13,637 shares (1,761 + 11,876) for $197,972 and $1,335,100 respectively; total value ~$1.53M. Disposed: same 13,637 shares for the same amounts.
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes of note:
  • F1: Each Stock Unit = contingent right to receive one share.
  • F2: Certain restricted stock units vested in full on May 12, 2026 (the annual meeting date).
  • F3: Includes 5 stock units from an administrative adjustment.
  • F4: Deferred stock units (DSUs) earned from director fees vested on May 12, 2026 upon conclusion of the director’s board service per the director’s election.
• Transaction code M denotes exercise or conversion of derivative securities.

Context

• For retail investors: exercises followed by immediate dispositions are common for exercising options or converting vested units while covering taxes or cashing out; they do not necessarily indicate an ongoing bullish position by the insider.
• No 10b5‑1 plan or tax withholding details were disclosed in the provided data. The filing appears routine and timely.