FICO Director David A. Rey Exercises Options, Receives RSUs

What Happened

• David A. Rey, a director of Fair Isaac Corp (FICO), exercised/converted 94 derivative shares and concurrently disposed of those 94 derivative shares on March 4, 2026. On the same date he was granted two awards totaling 745 restricted stock units (182 + 563 RSUs). All transactions show a reported price of $0, indicating these were compensation-related derivative transactions and awards rather than open-market purchases.

Key Details

• Transaction date: 2026-03-04.
• Exercise/conversion: 94 shares (derivative) acquired @ $0 and 94 shares (derivative) disposed @ $0 on the same date.
• Grants/awards: 182 RSUs and 563 RSUs granted @ $0 (total 745 RSUs).
• Vesting/terms: Each RSU represents a right to one share contingent on continued board service (F1). The larger grant will vest on the date of FICO’s 2027 Annual Shareholder Meeting (F4). Footnotes indicate the reporting person elected to receive his annual cash retainer in stock options under the non-employee director compensation program (F3), and one item notes no expiration date (F2).
• Shares owned after transaction: Not specified in the provided filing.
• Filing timeliness: No indication in the provided data that this filing was late.

Context

• The $0 price and the mix of an exercise/conversion plus RSU grants indicate compensation-related activity (director retainer election and awards), not a regular market buy. The same-day acquisition and disposition of 94 derivative shares suggests those shares were not held long-term (e.g., net-settlement or immediate disposition), but the filing does not state the specific disposition method. RSUs will convert to shares only upon vesting and continued service.