Jackson Derrick B. 4

What Happened
Jackson Derrick B., Chief of Credit Administration of a subsidiary, exercised stock options on 2026-01-22 to acquire a total of 10,615 common shares. The exercised tranches were: 4,309 shares at $26.72 (cost $115,136), 3,750 shares at $22.49 (cost $84,338), and 2,556 shares at $15.10 (cost $38,596) — total exercise cost about $238,070. To satisfy tax withholding, 7,051 shares were delivered/withheld at $33.75 (value reported $237,971), leaving a net increase of 3,564 shares held by the insider.

Key Details

• Transaction date: 2026-01-22.
• Option exercises: 4,309 @ $26.72; 3,750 @ $22.49; 2,556 @ $15.10 (total paid ≈ $238,070).
• Tax/withholding disposition: 7,051 shares delivered/withheld @ $33.75 (≈ $237,971).
• Net shares retained from the transaction: 10,615 acquired − 7,051 withheld = 3,564 shares.
• Footnotes: F1 notes certain transactions not required to be reported under Section 16; F2 states the stock options were fully vested.
• Filing timeliness: Report was filed late (marked "L" in the filing).

Context

• This was an exercise of vested options (transaction code M) with shares withheld to cover tax liabilities (transaction code F), a common cashless/net exercise method; it’s routine and doesn’t by itself indicate the insider’s market view.
• The insider paid about $238K to exercise options and ended up with a modest net increase in shares (3,564). Purchases/exercises can be informative, but note the withholding reduces visible buying power.