HALL GRAYSON 4

What Happened

• Director Grayson experienced a conversion/settlement of 655 restricted stock units (RSUs) into 655 shares on 2026-06-12 (transaction code M). The Form 4 shows an acquisition entry for 655 shares (price N/A) and a simultaneous disposal entry for 655 shares at $0.00 (no proceeds reported). This is a settlement of an award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-12; Form 4 filed: 2026-06-15 (timely — within the required reporting window).
• Acquired: 655 shares via conversion of RSUs (price N/A). Disposed: 655 shares at $0.00 (proceeds $0).
• Net change from these entries: 0 shares (655 acquired and 655 disposed).
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes from the filing:
  • F1: Each RSU equals a contingent right to one share.
  • F2: Represents RSUs awarded on the grant date plus dividend equivalents accruing since grant.
  • F3: RSUs cliff vested on the specified date and were settled in shares within 75 days after that date.
• The filing does not explicitly state the reason for the $0.00 disposal (e.g., tax withholding or other plan mechanics).

Context

• This is an award/vesting event (RSU conversion), not a market buy or sale; such settlements are routine compensation actions and do not necessarily indicate a change in the insider’s market view. In many filings, a disposal recorded at $0 can reflect shares withheld to satisfy tax obligations, but this particular Form 4 does not explicitly state that.