Warsh Kevin M 4

What Happened

• Kevin M. Warsh, a director of United Parcel Service, was granted a total of 2,260.844 deferred/phantom stock units across two awards: 312.844 units on 2026-05-06 and 1,948 units on 2026-05-07. Each unit is recorded at $0.00 (no cash purchase); total reported value = $0 (derivative awards). These are awards (transaction code A) rather than open-market purchases or sales.

Key Details

• Transaction dates and amounts: 2026-05-06 — 312.844 units @ $0.00; 2026-05-07 — 1,948 units @ $0.00.
• Total units granted: 2,260.844 phantom stock/restricted units; total reported cash value on Form 4 = $0.
• Nature of award: Phantom stock units under the Deferred Compensation Plan (footnotes F2–F4); units generally become payable in shares of Class A common stock or cash upon termination of service (F3). Includes dividend-equivalent units (F4). Restricted stock units convert one-for-one into Class A shares upon termination (F5).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form filed 2026-05-08 for transactions on 2026-05-06 and 05-07; appears timely (Form 4 is due within two business days).

Context

• These grants are director compensation (deferred/phantom units), a routine non-cash award, not an open-market purchase or sale. Such derivative awards typically vest or are settled in shares or cash when the director leaves service and include dividend equivalents; they do not directly indicate an immediate market stake change or a real-time buy/sell signal.