MATSUMOTO RAYMOND D 4

What Happened

• Raymond D. Matsumoto, Chief Operating Officer of Axos Financial (AX), had derivative instruments converted/ exercised and received stock connected to RSU activity on March 15, 2026. The filing shows two exercise/conversion events totaling 4,430 underlying shares acquired at $84.68 each (2,474 shares = $209,498; 1,956 shares = $165,634 = $375,132 total). The issuer withheld 2,453 shares for tax withholding (1,055 shares = $89,337; 1,398 shares = $118,383 = $207,720 total). The report also shows a grant/award of 3,189 restricted stock units (RSUs).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 16, 2026 (timely filing).
• Exercise/conversion (code M): 2,474 shares @ $84.68 ($209,498) and 1,956 shares @ $84.68 ($165,634).
• Disposition to issuer (tax withholding, code D): 1,055 shares and 1,398 shares withheld at $84.68 (total value withheld $207,720).
• Grant/award (code A): 3,189 RSUs reported as granted/awarded.
• Footnotes: RSUs vest one‑third on each anniversary of grant, are 1:1 contingent rights to common stock and carry dividend equivalent rights; withheld shares reflect net‑settlement for taxes.
• No 10b5‑1 or late‑filing notation included in the filing.

Context

• The filing shows a conversion/exercise and routine tax withholding (issuer retention of shares) rather than an open‑market sale to a third party. Withheld shares for taxes are standard when RSUs vest or are settled net.
• RSU grants and vesting are compensation events; they do not necessarily indicate the insider is buying or selling for market bets. Exercise/conversion (M) here reflects settlement of derivative/RSU rights into common stock.