Warsh Kevin M 4

What Happened Kevin M. Warsh, a director of United Parcel Service, Inc. (UPS), was granted 267.689 phantom stock units (derivative award) on February 4, 2026. The grant is reported at a $0.00 purchase price (code A — award/grant); the filing lists no immediate cash value because these are deferred/phantom units rather than purchased shares.

Key Details

• Transaction date: 2026-02-04; Form 4 filed: 2026-02-06 (filed timely, within 2 business days).
• Award: 267.689 phantom stock units; reported price: $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: units equal one share each; granted under the Deferred Compensation Plan; generally payable in Class A shares or cash upon termination of service; includes dividend-equivalent units credited on underlying shares.
• Transaction code: A (award/grant of derivative units).

Context Phantom stock units are a form of deferred compensation that track the company’s share value and may be settled in shares or cash later; they are not an open-market purchase and do not represent an immediate change in share ownership or a direct buy/sell signal. Dividend equivalents are credited to these units, increasing the eventual payout but not reflecting an immediate economic transfer.