Ladhani Holli C. 4

What Happened
Holli C. Ladhani, a director of Quanta Services, had 559 restricted stock units (RSUs) vest and convert into 559 shares on June 1, 2026. Of those, 196 shares were surrendered to the issuer for tax withholding at $711.73 per share, producing $139,499. The RSUs converted into shares at no cash cost to the reporting person.

Key Details

• Transaction date: June 1, 2026; filing date: June 3, 2026 (filed within the Form 4 two-business-day window).
• Conversions/awards: 559 RSUs converted to 559 shares (transaction code M, converted at $0.00).
• Withholding/disposition: 196 shares disposed to issuer for tax withholding at $711.73/share = $139,499 (transaction code D).
• Net shares retained from this settlement: 559 − 196 = 363 shares (filing does not state total beneficial ownership after the transaction).
• Footnotes: F1 — RSUs typically settle one-for-one into shares, with up to 50% elective cash settlement; F2 — these RSUs were granted May 22, 2025 and vested/settled June 1, 2026.
• Transaction codes explained: M = exercise/conversion of a derivative (here, RSU conversion); D = disposition to issuer (here, tax withholding). This was not an open-market sale by the insider.

Context
This filing reflects a routine equity award vesting and tax-withholding event rather than a discretionary sale or purchase. Such withholding is standard when RSUs vest and does not necessarily indicate a change in the insider’s view of the company. Purchases or open-market sales by insiders tend to carry more interpretive weight for investors.