Martsching Robert J 4

What Happened
Robert J. Martsching, VP & Corporate Controller of Fuller H. B. Co. (FUL), exercised stock derivatives on 2026-01-24. He acquired a total of 652 shares (440 + 195 from option exercises, plus a 17-share award) at $60.07 per share (gross value ≈ $39,166). To cover tax obligations, 219 shares (56 + 163) were withheld/disposed, leaving a net addition of 433 shares to his holdings (net value ≈ $26,011 at the exercise price). The filing shows the exercise entries both as acquired (M) and reflected the withheld shares as dispositions (F), consistent with tax-withholding on option exercises.

Key Details

• Transaction date: 2026-01-24; Filing date: 2026-01-27 (no indication in the provided data that the Form 4 was late).
• Prices and values: exercised at $60.07 per share; gross acquisition value ≈ $39,166; shares withheld for taxes value ≈ $13,155; net value retained ≈ $26,011.
• Share counts: gross acquired 652 shares (440 + 195 + 17); withheld/disposed 219 shares (56 + 163); net retained 433 shares.
• Relevant footnotes: F2 = shares withheld for taxes on the 195-share issuance; F3 = shares withheld for taxes on the 457-share issuance (457 = 440 + 17).
• Shares owned after transaction: not disclosed in the provided excerpt.
• Transaction codes: M = option exercise/conversion; A = award/grant; F = shares withheld/paid for taxes.

Context

• This was an option exercise with a portion of shares withheld to satisfy tax liabilities (common practice). That withholding is a disposition for tax purposes and not necessarily an indication of a bearish view.
• Exercises and awards increase insider shareholdings (here net +433 shares). No 10%‑owner or gift treatment applies based on the provided details.