Phipps Chad F 4

What Happened

• Chad F. Phipps, Senior Vice President, Chief Legal, Corporate Affairs and Secretary of Zimmer Biomet (ZBH), had one-third of an RSU award vest on Feb 25, 2026. The 2,626 vested RSUs converted into common shares (transaction code M, $0 exercise price).
• The company withheld 1,057 of those shares to satisfy tax withholding obligations (transaction code F) at an implied value of $99.51 per share, totaling approximately $105,182. Net shares delivered to Phipps: 2,626 - 1,057 = 1,569.

Key Details

• Transaction date: 2026-02-25; Form 4 filed 2026-02-27 (timely filing).
• Vesting/conversion: 2,626 shares converted from RSUs at $0 exercise price (code M).
• Tax withholding: 1,057 shares withheld at $99.51/share for ~$105,182 (code F).
• Net increase to insider: 1,569 shares delivered after withholding.
• Shares owned after the transaction: not disclosed in this filing.
• Footnotes: F1 = shares withheld to satisfy tax obligations; F2 = one-third of RSUs vested on Feb 25, 2026, remaining vest in 2027 and 2028.

Context

• This was a routine RSU vesting event (award conversion), not an open-market purchase or voluntary sale. The $0 exercise price reflects RSUs converting to shares on vesting.
• Withholding shares to cover taxes is common and does not necessarily indicate bullish or bearish sentiment by the insider.