Garrabrants Gregory 4

What Happened
Gregory Garrabrants, President, CEO and a director of Axos Financial (AX), had 202,032 restricted stock units (RSUs) vest on June 30, 2026. The vested RSUs were converted into 202,032 shares (conversion reported as an exercise/conversion of derivative) at a reported per-share value of $97.39 (total value $19,675,896). Axos withheld 108,995 of those shares for tax withholding (disposition to issuer) valued at $97.39 each (≈ $10,615,023), leaving Garrabrants with a net delivery of 93,037 shares (202,032 − 108,995), worth roughly $9.06M at the $97.39 price. The withholding was a tax settlement rather than an open-market sale.

Key Details

• Transaction date: 2026-06-30; filing date: 2026-07-01. Report shows no indication of a late filing.
• Prices/values reported: $97.39 per share; RSU vesting value $19,675,896; shares withheld value $10,615,023.
• Net shares received: 93,037 shares (202,032 vested − 108,995 withheld). Estimated net market value ≈ $9.06M (based on $97.39).
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: RSUs were granted under the Axos Financial, Inc. 2014 Stock Incentive Plans in connection with his employment agreement, include dividend equivalent rights, and vest one-fourth each fiscal year (annual vesting). The disposition to the issuer represents company share retention for tax withholding.

Context
This was an executive RSU vesting and net-share settlement (company withheld shares for taxes), not an open-market sale or a purchase. The derivative conversion (M code) reflects the RSUs converting into common stock; the D code reflects tax withholding. For retail investors, such vesting events are routine compensation-related transactions rather than direct signals of buying or selling intent.