Horn Andrew S 4

What Happened

• Andrew S. Horn, Chief Financial Officer of CBRE Group, had a total of 259 shares disposed on March 5, 2026 to satisfy tax withholding related to equity awards or option exercises. The filings show two withholding transactions: 118 shares at $141.19 each ($16,660) and 141 shares at $141.19 each ($19,908), totaling approximately $36,568.
• This was not an open-market sale for cash—shares were withheld to cover tax liabilities (transaction code F), a routine administrative step following vesting or option exercise rather than a directional buy/sell decision.

Key Details

• Transaction dates and prices:
  • 2026-03-05: 118 shares withheld @ $141.19 = $16,660
  • 2026-03-05: 141 shares withheld @ $141.19 = $19,908
• Total shares withheld: 259; total value ≈ $36,568.
• Shares owned after transaction: not disclosed in this Form 4 filing.
• Footnote/transaction code: F = payment of exercise price or tax liability (shares withheld to cover taxes).
• Filing: Report filed 2026-03-09 for transactions on 2026-03-05 — this is four days later; Form 4s are typically due within two business days, so investors may want to check timeliness/disclosure status.

Context

• When insiders have shares withheld (code F), it usually means shares were used to pay taxes from vesting of restricted stock or exercise of options. This is a routine, non-market-disposition and does not necessarily indicate a change in the insider's view of the company.
• Because this transaction involves withholding rather than an open-market sale or purchase, it’s generally considered administrative rather than a signal of bullish or bearish sentiment.