PATEL SUNIT S 4

What Happened
CFO Sunit S. Patel had 5,726 time-based RSUs convert into common shares on Feb 19, 2026 (no cash exercise price). Of those, 1,447 shares were withheld by the company to satisfy tax withholding (~$87.43/share, totaling $126,511), leaving a net delivery of 4,279 shares to Patel. The total value of the vested RSUs at $87.43/share was roughly $500,624, so the net value received was about $374,113.

Key Details

• Transaction date: Feb 19, 2026; Form filed Feb 23, 2026 (filed 4 days after the transaction). Timeliness flag not provided in the supplied data.
• Price used for tax withholding: $87.43 per share.
• Shares: 5,726 RSUs vested; 1,447 shares withheld for taxes (F), net 4,279 shares delivered.
• Reporting codes: M = exercise/conversion of derivative (RSU conversion), F = shares withheld to satisfy tax liability. Withholding exempt under Rule 16b-3(e) (footnote F1).
• Plan and vesting: RSUs issued under the 2022 Long-Term Incentive Plan (F2). These are time RSUs granted Feb 26, 2025 with 33 1/3% vesting on Feb 19 of 2026, 2027 and 2028 (F3).
• Shares owned after transaction: not specified in the provided filing details.

Context
These were time-based RSUs vesting (a non-cash compensation event), not an open-market purchase or discretionary sale. The share withholding to cover taxes is a routine, administrative action and is treated as exempt from short-swing profit rules under Rule 16b-3(e). For investors, such vesting events are routine compensation-related activity and do not necessarily signal the insider’s view of the company’s stock.