Giamartino Emma E. 4

What Happened
Emma E. Giamartino, CFO & Chief Investment Officer of CBRE Group, reported the disposition of 3,916 shares on March 5, 2026 as payment of tax obligations tied to an exercise/settlement. The filing shows two withholdings: 1,559 shares at $141.19 each ($220,115) and 2,357 shares at $141.19 each ($332,785), for a combined value of $552,900. These were reported as Code F transactions (payment of exercise price or tax liability), i.e., shares were surrendered/withheld rather than an open-market sale.

Key Details

• Transaction date: 2026-03-05; Form 4 filed: 2026-03-09 (appears timely).
• Prices and amounts: 1,559 shares @ $141.19 = $220,115; 2,357 shares @ $141.19 = $332,785; total = 3,916 shares / $552,900.
• Transaction code: F — payment of exercise price or tax liability (shares withheld).
• Shares owned after transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan or late-filing flag noted in the supplied data.

Context
Code F withholdings are a common, routine way insiders satisfy tax withholding when stock options vest or restricted shares are settled; they do not necessarily signal a deliberate market sell decision. For retail investors, purchases are typically a clearer bullish signal than tax-related disposals.