Lindeman Bruce John 4

What Happened

• Bruce Lindeman, CEO of Calavo Growers, converted/exercised 4,259 restricted stock units (derivative instrument) into common shares on April 23, 2026. The RSUs converted at a $0.00 exercise price (i.e., they settled into shares rather than requiring cash).
• To cover tax withholding, Lindeman surrendered 1,587 of those shares at $27.86 per share, yielding $44,214. Net shares received from this conversion: 4,259 − 1,587 = 2,672 shares. This was not an open‑market sale but a routine tax withholding related to vesting/conversion.

Key Details

• Transaction date: April 23, 2026.
• Transactions reported: M (exercise/conversion of derivative) — 4,259 shares acquired; F (tax withholding/payment) — 1,587 shares surrendered at $27.86 each for $44,214.
• Net shares issued to Lindeman from this event: 2,672 shares (4,259 converted minus 1,587 withheld).
• Footnotes: RSUs represent contingent rights to one share each; vesting terms reference the earlier of 1-year anniversary or the 2026 annual meeting. A prior action deferred receipt of 2,220 shares under the RSU agreement (see footnote).
• Filing timing: Report filed Apr 27, 2026 for transactions on Apr 23, 2026 (filed within the typical 2 business‑day window).

Context

• Code M indicates conversion/exercise of a derivative (here, RSUs converting into stock). Code F indicates shares were transferred to satisfy tax withholding — a common, routine administrative step and not a market sale.
• This activity is issuance/settlement of compensation awards rather than a directional buy or sell signal by the insider.