KIMURA SHELEE M.T. 4

What Happened
Shelee M.T. Kimura, a director of Alexander & Baldwin, had two dispositions on March 12, 2026: 6,540 and 11,159 shares (total 17,699). These were not open-market sales but cancellations/conversions in connection with Alexander & Baldwin’s merger. Under the merger terms, each share (and director RSU) was converted into $20.85 in cash, so the 17,699 shares represent approximately $369,024.15 in cash consideration (plus any accrued dividend equivalents), subject to applicable withholding.

Key Details

• Transaction date: March 12, 2026. Form 4 filed March 16, 2026 (within the usual 2-business-day filing window).
• Reported entries show "Disposition to the issuer" at $0.00 per share on the Form 4; footnotes explain the conversion to cash under the Merger Agreement at $20.85 per share.
• Breakout: 6,540 shares → approx. $136,359.00; 11,159 shares → approx. $232,665.15; total ≈ $369,024.15.
• Footnote: Director RSU awards subject only to service-based vesting were canceled and converted into a cash payment equal to (# shares) × Merger Consideration ($20.85), plus any accrued dividend equivalents; payments subject to withholding.
• Shares owned after the transaction: not reported on this Form 4.

Context
This activity reflects the company being acquired (effective March 12, 2026) and the automatic cash-out of common shares and certain RSUs at the merger consideration ($20.85/share). Because this is a corporate merger payment rather than an active sale by the insider, it should be viewed as a transaction resulting from the deal terms rather than a signal of the insider’s market sentiment.