Mitchill Neil G. JR 4
4 · RTX Corp · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
RTX CFO Neil G. Mitchill Jr. Exercises SARs, Sells Shares
What Happened
Neil G. Mitchill Jr., Chief Financial Officer of RTX Corp (RTX), exercised stock appreciation rights (SARs) and sold shares on February 19, 2026. The filing shows exercises treated as acquisitions of 10,000 and 9,394 shares at an exercise price of $76.00 per share (total exercise cost $1,473,944). On the same day he disposed of a total of 42,925 shares: 7,170 shares were surrendered/returned to the issuer (two dispositions to the issuer at $205.53 and $205.56 per share, totaling $1,473,761) and 35,755 shares were sold in the open market (three weighted-average sale prices around $205.54–$205.57, totaling about $7.35M). Aggregate proceeds from the disposals were approximately $8.82 million.
Key Details
- Transaction date: February 19, 2026; Form 4 filed February 23, 2026 (filed within required two business days).
- Exercise price: $76.00 per share for the SAR-related acquisitions (10,000 and 9,394 shares). Exercise cost reported: $1,473,944.
- Dispositions: 3,473 shares at $205.53 ($713,806) and 3,697 shares at $205.56 ($759,955) to the issuer; 5,921, 6,303 and 23,531 shares sold in the open market at weighted-average prices (~$205.54–$205.57) for $1,217,019, $1,295,496 and $4,837,385 respectively. Total shares disposed: 42,925; total proceeds: ≈ $8,823,661.
- Shares owned after the transactions: Not provided in the materials you supplied.
- Footnotes: F1 explains SARs were settled in shares and, for reporting, the exercise is an acquisition plus a simultaneous sale back to the issuer of shares equal in value to the exercise price; F2–F4 note the open-market sale prices are weighted averages across multiple same-day trades.
Context
This was effectively a cashless exercise/settlement of SARs with same-day sales: part of the shares were withheld/sold back to the company to cover the exercise, and the remainder were sold on the open market. Such insider sales after exercise are often routine (to cover tax/compensation obligations or to diversify) and do not by themselves indicate management’s view on the company’s stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-19$76.00/sh+10,000$760,000→ 93,087 total - Exercise/Conversion
Common Stock
[F1]2026-02-19$76.00/sh+9,394$713,944→ 102,481 total - Disposition to Issuer
Common Stock
2026-02-19$205.53/sh−3,473$713,806→ 99,008 total - Disposition to Issuer
Common Stock
2026-02-19$205.56/sh−3,697$759,955→ 95,311 total - Sale
Common Stock
[F2]2026-02-19$205.54/sh−5,921$1,217,019→ 89,390 total - Sale
Common Stock
[F3]2026-02-19$205.54/sh−6,303$1,295,496→ 83,087 total - Sale
Common Stock
[F4]2026-02-19$205.57/sh−23,531$4,837,385→ 59,556 total - Exercise/Conversion
Stock Appreciation Right
2026-02-19−9,394→ 10,000 totalExercise: $76.00From: 2021-01-02Exp: 2028-01-01→ Common Stock (9,394 underlying) - Exercise/Conversion
Stock Appreciation Right
2026-02-19−10,000→ 0 totalExercise: $76.00From: 2021-01-02Exp: 2028-01-01→ Common Stock (10,000 underlying)
- 1,475(indirect: By Trust)
Common Stock
Footnotes (4)
- [F1]The Stock Appreciation Rights (SARs) were settled in shares in accordance with the terms of the award. For Section 16 reporting purposes, the exercise of SARs for stock is treated as an exempt acquisition of the shares underlying the SARs at the exercise price per share specified in the award of SARs and a simultaneous sale back to the issuer of a number of the underlying shares having a value, based on the market price of the issuer's stock on the date of the exercise, equal to the product of the number of underlying SARs times the exercise price per share.
- [F2]The reported price is based on a weighted average of multiple same-day transactions with prices ranging from $205.5417 to $205.625 per share. Full information regarding the number of shares sold at each separate price is available to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer upon request.
- [F3]The reported price is based on a weighted average of multiple same-day transactions with prices ranging from $205.5329 to $205.675 per share. Full information regarding the number of shares sold at each separate price is available to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer upon request.
- [F4]The reported price is based on a weighted average of multiple same-day transactions with prices ranging from $205.00 to $206.00 per share. Full information regarding the number of shares sold at each separate price is available to the Securities and Exchange Commission, the Issuer or any security holder of the Issuer upon request.