Malik Muhammad Shahbaz 4

What Happened

• Malik Muhammad Shahbaz, Senior Vice President at Fuller H. B. Co. (FUL), exercised derivative awards to acquire 600 shares of common stock on Jan 27, 2026 at an exercise price of $59.81 per share (value $35,886).
• The filing shows 192 of those shares were withheld to satisfy tax obligations (value $11,484). The report also records a disposition entry for 600 derivative shares (same count/value), consistent with conversion/exercise activity. Net retained shares after withholding appear to be 408 (600 acquired − 192 withheld).

Key Details

• Transaction date: 2026-01-27; Exercise price / reported price: $59.81 per share.
• Acquired: 600 shares via exercise (total reported value $35,886). Withheld for taxes: 192 shares (value $11,484).
• Filing date / report filed: 2026-01-29 reporting the Jan 27 transaction — appears timely (within typical 2-business-day window).
• Footnote of note: F1 — shares were withheld to cover taxes on the 600 shares issued.
• Shares owned after the transaction: not specified in the filing.

Context

• This was an exercise of derivatives (options/R.S.U. conversion) rather than an open-market purchase; the withholding of shares for taxes is a routine administrative step and not a market sale of additional shares.
• The filing shows both acquisition and a disposition entry for derivative shares, which can reflect the mechanics of exercising/converting options (cashless or net-share settlement). The key takeaway for investors: the insider exercised to realize the underlying shares, retaining an estimated 408 net shares after tax withholding.