Malik Muhammad Shahbaz 4

What Happened

• Malik Muhammad Shahbaz, Senior Vice President (BAS) of FULLER H B Co (FUL), exercised options and received restricted‑stock awards on Jan 26, 2026. He acquired 606 shares via option exercise at $60.07 (value $36,402) and was granted 16,863 shares with a reported value of $59.81 each (value $1,008,576). An additional 2,487 restricted stock units were issued at $0.00 (likely dividend‑related). Total shares acquired reported = 19,956; total reported value (excluding the zero‑cost units) ≈ $1,044,978. To cover tax obligations, 215 shares were withheld (disposed) valued at $12,915.

Key Details

• Transaction date: January 26, 2026; Form 4 filed January 28, 2026 (appears filed within the usual two‑business‑day window).
• Exercise price / reported values: options at $60.07 per share; award fair value shown at $59.81 per share.
• Reported share movements: +606 (exercise), +16,863 (grant/award), +2,487 (RSUs at $0.00); -215 shares withheld for taxes.
• Shares owned after transaction: not stated in the filing.
• Notable footnotes from the filing:
  • F1: 215 shares were withheld to cover taxes on the 606 shares issued.
  • F2/F6: Some amounts include shares/RSUs acquired under dividend reinvestment or dividend equivalent features.
  • F3/F5: Grants/awards/options generally vest in three annual installments (33%, 33%, 34%).
  • F4: RSUs convert to common stock on a 1‑for‑1 basis.
  • F7: The option in question is 100% vested.

Context

• This was primarily an acquisition event (option exercise + awards). The withholding of 215 shares to cover taxes is a routine tax‑withholding disposition and is noted on the filing — it is not an open‑market sale intended as a liquidity move. For options exercises, withholding or selling some shares to cover exercise/tax costs is common and effectively makes part of the exercise cashless. No 10% owner or gift reporting issues are indicated.