Cesarone Nando 4

What Happened
Nando Cesarone, President — U.S. Operations for United Parcel Service, received two equity awards on February 4, 2026: 51,376 derivative awards priced at $0.00 (an option-style award with a vesting schedule) and 1,831 restricted performance units (PSUs) priced at $0.00 that will convert to shares. These were grants/awards (transaction code A), not open-market purchases or sales, so no cash changed hands at grant.

Key Details

• Transaction date: 2026-02-04; Form 4 filed: 2026-02-06 (timely filing).
• Awards: 51,376 derivative awards @ $0.00; 1,831 restricted performance units @ $0.00.
• Transaction type: A = Award/Grant (derivative securities).
• Footnotes: F1 — the option-style awards vest at 20% annually beginning Feb 4, 2027 (20%/yr). F2 — the PSUs are long-term performance units that automatically convert to one share of Class A common stock per unit after the performance period.
• Shares owned after the transaction: Not disclosed in the provided filing.
• No immediate sale or cashless exercise reported; these are compensation awards, not market trades.

Context
Derivative awards and PSUs are commonly used for executive compensation and typically vest or convert over future service or performance periods. Because these grants are awarded at $0.00, they represent future rights to company stock subject to vesting/performance conditions rather than an immediate purchase or sale.