DENAULT LEO P 4

What Happened Leo Denault (Director) was credited with 20.419 shares on 2026-06-12 under an award/acquisition (transaction code A). The filing reports the acquisition price as $0.00 — these shares were issued as dividend equivalents tied to director stock units, not bought on the open market.

Key Details

• Transaction date: 2026-06-12; Form 4 filed: 2026-06-15 (filed timely).
• Shares acquired: 20.419; reported price per share: $0.00 (award/dividend-equivalent credit).
• Transaction type: A (award/acquisition of shares via dividend equivalents to director stock units).
• Shares owned after the transaction: not disclosed in the provided excerpt of the filing.
• Footnote: Under the company’s 2012 and 2022 Long-Term Incentive Stock Plans, dividend equivalents are credited to each director stock unit (SUA). Each SUA represents a right to one share and dividend equivalents are calculated by dividing the aggregate dividend on the SUAs by the closing stock price on the dividend payment date.
• No 10b5-1 plan, option exercise, tax-withholding sale, or late filing flag indicated in the provided information.

Context This transaction reflects routine director compensation: dividend-equivalent credits to director stock units (SUA). SUAs generally convert to actual shares when a non-employee director leaves the board (typically payable within ~30 days after cessation). Such awards are standard and do not, by themselves, indicate a change in the insider’s view of the company’s prospects.