Horn Andrew S 4

What Happened
Andrew S. Horn, Chief Financial Officer of CBRE Group, had a total of 343 shares disposed on March 10, 2026 to satisfy tax withholding related to an equity transaction. The disposition consisted of 156 shares at $134.59 each (≈ $20,996) and 187 shares at $134.59 each (≈ $25,168), for a combined value of about $46,164. This was not an open-market sale for investment purposes but a tax-withholding event.

Key Details

• Transaction date: 2026-03-10; Filing date: 2026-03-12 (filed within the typical two-business-day Form 4 window).
• Price per share: $134.59.
• Shares disposed: 156 and 187 (total 343). Total value ≈ $46,164.
• Transaction code: F — payment of exercise price or tax liability (shares withheld/surrendered to cover taxes).
• Shares owned after transaction: not specified in the provided filing details.
• No 10b5-1 plan or other trading-plan notation was reported in the items provided.

Context
This appears to be a routine administrative withholding of shares to cover tax obligations tied to an equity award or option exercise (a common cashless-like settlement). Such withholdings are standard and do not necessarily signal a personal decision to reduce or increase the insider’s market exposure. Purchases generally carry more informational weight for investor sentiment than routine tax withholdings.