Applied Industrial (AIT) CEO Neil Schrimsher Receives Awards, Withholds Shares

What Happened
Neil A. Schrimsher, President, CEO and Director of Applied Industrial Technologies, received multiple equity awards on 2026-08-11 and had 4,876 shares withheld to satisfy tax withholding on vesting of performance shares. The filing shows: 3,089 restricted stock units (RSUs) granted (no cash paid), 10,313 performance shares credited (banked), and a derivative grant of 10,217 stock-only stock appreciation rights (SARs). Separately, 4,876 shares were disposed (withheld) at $352.35 per share to cover tax withholding, a total value of $1,718,059.

Key Details

• Transaction date: 2026-08-11; Form 4 filed 2026-08-13.
• Grants (code A): 3,089 RSUs @ $0.00; 10,313 performance shares (banked) @ $0.00; 10,217 SARs (derivative) @ $0.00.
• Tax withholding (code F / disposition): 4,876 shares withheld at $352.35 per share for $1,718,059. This is a withholding to satisfy tax obligations, not an open-market sale.
• Footnotes: F1 = RSUs vest in three years and settle in Applied common stock; F2 = performance shares vest at the end of a three-year program and settle in stock; F3 = shares were withheld by the company to satisfy tax withholding; F4 = SARs are stock-only and become exercisable in 25% annual increments beginning one year after grant.
• Shares owned after the transactions are not disclosed in the provided summary of the filing.

Context

• The RSUs and performance shares are time- or performance-based awards that vest in the future (three-year schedules); the SARs are a derivative award that will generally become exercisable over time.
• The 4,876-share disposition was a routine tax-withholding action on vesting, not a change in economic exposure via a market sale.
• These types of award grants are common for executive compensation and do not by themselves signal the insider is buying or selling stock on market.