SULLIVAN TIMOTHY P 4

What Happened

• Director Timothy P. Sullivan was granted restricted stock units (RSUs) on May 20, 2026. The filing reports two awards: 8,997 RSUs reported at $0.00 per share (typical reporting for equity awards) and 4,836 RSUs at $22.23 per share (total $107,504). Footnotes show the first award was sized to equal $200,000 of value, so the combined grant value is about $307,504. These RSUs vest in full on May 20, 2027. This was an equity award (not an open‑market purchase or sale).

Key Details

• Transaction date: May 20, 2026; Form 4 filed May 22, 2026 (appears timely).
• Awards: 8,997 RSUs @ $0.00 (value = $200,000 per footnote), plus 4,836 RSUs @ $22.23 = $107,504; total ≈ $307,504.
• Vesting: Both grants vest in full on May 20, 2027.
• Shares owned after transaction: not disclosed in the provided filing details.
• Footnotes: F1 = $200,000 value grant; F2 = RSUs issued in lieu of cash retainer fees.
• No 10b5-1 plan, sale, exercise, or tax‑withholding details reported in the supplied text.

Context

• These are time‑based RSU awards (not purchases or immediate sales). They provide future equity if the director remains employed/serves through the vest date and do not necessarily indicate a buy/sell signal. The second grant reflects compensation paid in stock instead of cash retainer fees.