Earnings Feed
Start Free
RTX Corp·4

Feb 23, 5:09 PM ET

Mitchill Neil G. JR 4

Research Summary

AI-generated summary

Updated

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.