Dykes Brian M 4

What Happened

• Brian M. Dykes, Chief Financial Officer of United Parcel Service (UPS), had 499 performance-based units vest and convert into 499 shares on Feb 13, 2026 (reported Feb 13, 2026). The conversion was reported as an exercise/conversion of a derivative (code M) at $0.00 per share.
• To satisfy tax withholding, 249 of those shares were surrendered/disposed (code F) at $99.19 per share for proceeds of $24,698. Net from the vesting event, Dykes received 250 shares.

Key Details

• Transaction date: 2026-02-13; Form filed: 2026-02-13 (timely).
• Conversion: 499 shares acquired via vesting/conversion (code M) at $0.00.
• Tax withholding: 249 shares disposed (code F) at $99.19 → $24,698.
• Net shares retained from the award: 250 shares.
• Shares owned after the reported transactions: at least 779.9027 shares (529.9027 shares reported in his 401(k) per footnote F1 plus the net 250 shares from this vesting).
• Footnotes: F1 notes 529.9027 shares in his 401(k); F2 clarifies one unit = one share; F3 states RPUs vested upon certification of results by the Compensation & Human Capital Committee on Feb 4, 2026.
• Transaction codes: M = exercise/conversion of derivative (vesting of RPUs); F = payment of tax liability (shares withheld/surrendered).

Context

• This was a vesting/conversion of performance RSUs (RPUs), not an open-market purchase or voluntary sale. The 249-share disposition was for tax withholding, a routine administrative step rather than a directional trade signal.
• The $0.00 acquisition price reflects conversion/settlement of awards rather than a cash exercise.