CATHAY (CATY) EVP Albert Sun Exercises RSUs, Sells Shares for Taxes

What Happened Albert Sun, EVP and Chief Credit Officer of Cathay General Bancorp (CATY), had 1,417 restricted stock units (RSUs) vest and convert into 1,417 shares on September 25, 2026. The conversion was reported as an exercise/conversion of a derivative (code M) at a $0 exercise price. To satisfy tax withholding (code F), 457 of those shares were withheld at $61.45 per share, generating $28,083 in tax payment; the net result was 960 shares issued to Sun.

Key Details

• Transaction date: 2026-09-25 (filing date: 2026-09-25 — appears timely).
• Conversion: 1,417 RSUs → 1,417 shares (exercise/conversion of derivative, code M) at $0.00.
• Tax withholding: 457 shares withheld (code F) at $61.45 = $28,083.
• Net shares issued to insider: 1,417 − 457 = 960 shares.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 clarifies each RSU = right to one common share. F2 notes the award of 1,417 RSUs was previously reported (Form 3, Jan 8, 2024) and all vested on 9/25/2026.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context This was a routine RSU vesting event, not an open-market purchase or a discretionary sale by the insider. The withholding of shares to cover taxes is a common, administrative settlement method (similar to a cashless/net settlement) and does not necessarily signal a change in Sun’s view of the company.