ADP Exec VP Virginia Magliulo Receives RSU Award; Shares Withheld

What Happened

• Virginia Magliulo, Executive Vice President at Automatic Data Processing, was granted 2,858 restricted stock units (RSUs) on 2026-09-01 (reported on Form 4). The grant is reported at $0 because it is an award rather than an open-market purchase.
• To satisfy tax withholding tied to the award, 2,708.956 shares were disposed (withheld) at a per-share value of $283.49, totaling approximately $767,962. The disposal is coded F (payment of tax liability).

Key Details

• Transaction date: 2026-09-01; Form 4 filed: 2026-09-03 (period of report 2026-09-01).
• Award: 2,858 RSUs granted (reported at $0).
• Withholding/disposition: 2,708.956 shares at $283.49 each = $767,962 (code F — tax withholding).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote: RSUs are convertible into common stock one-for-one and vest ratably over 3 years.
• No late-filing flag was provided in the supplied data.

Context

• These RSUs are a compensation award; the withholding of shares to cover taxes is a routine administrative step and not an open-market sale that necessarily signals insider sentiment. For derivative-type awards like RSUs, the key items are grant size, vesting schedule, and any immediate sale — here, no open-market sale occurred, only tax withholding. Purchases (P) tend to be more informative for sentiment than routine awards plus withholding.