Cathay General Bancorp (CATY) SVP Chan May K. Exercises RSUs, Sells Shares

What Happened

• Chan May K., Senior Vice President and General Counsel of Cathay General Bancorp (CATY), had 1,448 restricted stock units (RSUs) vest on July 27, 2026. Those RSUs converted into 1,448 shares (exercise/conversion — code M, reported as $0.00 per share).
• To satisfy tax withholding obligations, 467 of the newly issued shares were withheld/disposed (code F) at a reported value of $62.56 per share, resulting in $29,216 withheld for taxes. Net shares retained from this vesting event: 981 shares (1,448 vested − 467 withheld).
• This appears to be a routine vesting and tax-withholding transaction rather than an open-market sale or purchase.

Key Details

• Transaction date: July 27, 2026; Form 4 filed July 29, 2026 (filed within the normal two-business-day window).
• RSU conversion: 1,448 shares; conversion price shown as $0.00 (typical for RSU vest-to-stock).
• Tax withholding: 467 shares at $62.56 each = $29,216 (transaction code F).
• Net shares received from the award: 981 shares retained by the reporting person.
• Footnotes: F2 clarifies each RSU equals one share; F3 notes the RSUs were originally reported as awarded on July 31, 2023 and vested on July 27, 2026; F1 notes 43.602 shares YTD from dividend reinvestment (listed in the filing).
• The filing does not provide the reporting person’s total shares owned after the transaction in the provided summary.

Context

• This was an RSU vesting event with shares withheld to cover tax obligations (a common, routine administrative transaction). It is not an open-market sale intended to realize cash beyond the tax payment.
• Transaction codes: M = exercise/conversion of a derivative (here, RSUs converting to stock); F = payment of exercise price or tax liability (share withholding). Such withholding sales are generally neutral in terms of signaling insider sentiment.