Armstrong Mac 4

What Happened

• Mac Armstrong (CEO, Chairman and Director) had restricted stock units convert/exercise (reported as derivative conversions) totaling 14,771 shares on Jan 29 and Jan 31, 2026 (acquired at $0.00 on the Form 4 as these were vested RSUs).
• The filing also reports three open-market sales totaling 7,604 shares: 2,460 shares on 2026-01-29 at $122.04 ($300,226), 2,939 shares on 2026-01-29 at $122.04 ($358,683) and 2,205 shares on 2026-01-31 at $121.74 ($268,445). Gross proceeds from those sales ≈ $927,354.
• These transactions appear to be related to RSU vesting rather than a standalone bullish purchase; footnote F1 indicates that some shares were automatically sold by the company to cover statutory tax withholding upon vesting (a routine "sell‑to‑cover").

Key Details

• Transaction dates/prices: 1/29/2026 and 1/31/2026; sales at ~$121.74–$122.04 per share.
• Vested/converted shares: 14,771 RSUs converted to shares (reported as M/exercise conversions at $0.00).
• Shares sold in open market: 7,604 shares for total proceeds ≈ $927,354.
• Footnotes: F1 = mandatory sell‑to‑cover for tax withholding on RSU vesting; F2 notes 2,652 shares from the 2019 ESPP are included in holdings; F3–F5 describe original RSU grant schedules (vesting over 3 years).
• Filing: Report shows Form 4 filed 2026-02-02 for transactions dated 1/29 and 1/31, 2026; no late filing flag is indicated in the filing.

Context

• Code M (exercise/conversion of derivative) here reflects RSUs vesting/convert to common shares; some or all of the resulting shares were sold or withheld to satisfy taxes (sell‑to‑cover), which is routine and does not necessarily indicate a change in sentiment.
• This filing documents sales and vesting rather than purchases; purchases (when present) are generally considered a stronger signal of insider conviction.
• The report is for an executive (not a 10% owner), and the disclosures include standard RSU vesting schedules and ESPP holdings.