MATSUMOTO RAYMOND D 4

What Happened
Raymond D. Matsumoto, Chief Operating Officer of Axos Financial, had 1,621 restricted stock units (RSUs) convert into common shares on March 20, 2026 (gross value $134,430 at $82.93/share). As part of the net-settlement/tax withholding, 874 shares were retained by the company (value $72,481), leaving Matsumoto with 747 shares (approx. $61,949). The filing shows conversion/exercise of RSUs and the company’s withholding rather than an open-market sale.

Key Details

• Transaction date: March 20, 2026. Form filed March 24, 2026 (appears timely).
• Conversions/transactions reported:
  • Exercise/conversion (M): 1,621 shares acquired @ $82.93 — $134,430 (F1, F4).
  • Disposition to issuer/withholding (D): 874 shares disposed/withheld @ $82.93 — $72,481 (F2).
  • A related derivative line shows the RSU conversion (M) recorded at $0.00 for the derivative accounting (no cash paid) (F3–F5).
• Net shares retained by the insider after withholding: 747 shares (1,621 − 874), approximate net value $61,949.
• Footnotes: RSUs were granted under Axos Financial’s 2014 Stock Incentive Plan, vest one‑third each anniversary, represent rights to one share each, and include dividend equivalents (F1–F5). Withholding was via share retention by the issuer (net-settlement) rather than an open-market sale (F2).
• Shares owned after the transaction are not specified in this filing.

Context
This transaction reflects standard RSU vesting and issuer withholding for taxes (a neutral, administrative event) rather than a market sale or a discretionary purchase. The use of code M indicates conversion/exercise of a derivative (here, RSUs converting into common stock); the D entry indicates shares delivered back to the issuer for tax withholding (not indicative of a bearish trade).