Nelligan Hanna Olivia 4
4 · DANA Inc · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
DANA Director Olivia Nelligan Exercises Restricted Stock Units
What Happened
Olivia Nelligan, a director of DANA Inc. (DAN), reported the exercise/conversion of derivative awards on February 11, 2026. The filing shows 2,575 shares and 11 shares (total 2,586) acquired at $0.00 and matching derivative disposals of the same amounts at $0.00. The $0.00 price indicates these were conversions of previously granted restricted stock units/dividend-equivalent rights rather than open-market cash purchases.
Key Details
- Transaction date: 2026-02-11; reported on Form 4 filed 2026-02-12 (next-day filing).
- Reported transaction code: M (exercise or conversion of a derivative).
- Shares involved: 2,586 total (2,575 + 11) acquired and 2,586 disposed (all reported at $0.00).
- Shares owned after transaction: not specified in the provided summary of the filing.
- Footnotes: F1–F3 indicate these were restricted stock units (RSUs) with dividend equivalent rights that vested and became exercisable; each RSU represents one share (or cash at the company’s election) and vesting occurs in full on the first anniversary of the grant.
Context
This filing reflects an administrative conversion of vested RSUs/dividend-equivalent rights rather than a straightforward buy or sale in the open market. The matching disposals reported alongside the conversion are commonly used to satisfy tax withholding or other settlement mechanics, but the filing itself does not state the specific reason. Such derivative conversions are routine for equity awards and do not, by themselves, indicate an investment view.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.01
2026-02-11+2,575→ 2,575 total - Exercise/Conversion
Common Stock, par value $0.01
2026-02-11+11→ 2,586 total - Exercise/Conversion
Dividend Equivalent Rights
[F1]2026-02-11−11→ 0 total→ Common Stock, par value $0.01 (11 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F3]2026-02-11−2,575→ 0 totalFrom: 2026-02-11→ Common Stock, par value $0.01 (2,575 underlying)
Footnotes (3)
- [F1]Dividend equivalent rights accrued on previously granted restricted stock units and become exercisable proportionately with the restricted stock units to which they relate, which have vested.
- [F2]Each restricted stock unit granted represents the right to receive one share of Dana common stock or, at the election of Dana, cash equal to the market value per share. Each restricted stock unit contains dividend equivalent rights.
- [F3]Restricted stock units granted vest in full on the first anniversary date of the grant.