McWatters Denise Clark 4

What Happened

• Denise Clark McWatters, EVP, General Counsel & Corporate Secretary of Delek US Holdings (DK), exercised options on 2026-02-27 to acquire 52,221 shares at $38.11 per share (total value $1,990,142).
• To satisfy tax withholding, 20,673 of those shares were withheld (disposed) at the same price for a value of $787,848 (footnote F1). The net shares retained by McWatters after withholding were 31,548, with a net value of approximately $1,202,294.

Key Details

• Transaction date: 2026-02-27; Filing date: 2026-03-02 (filed timely).
• Prices: $38.11 per share for both the exercise (M) and the withholding (F).
• Shares involved: 52,221 acquired via option exercise; 20,673 withheld for taxes; net retained 31,548.
• Values: Gross exercise value $1,990,142; tax withholding value $787,848; net value retained ≈ $1,202,294.
• Footnote: F1 indicates shares were withheld for tax purposes upon vesting of equity awards (i.e., not an open-market sale).
• "M" = exercise/conversion of derivative; "F" = payment of exercise price or tax liability via share withholding.
• Shares owned after the transaction were not specified in the provided excerpt of the filing.

Context

• This was an option exercise with shares withheld to cover taxes (a routine, cashless-style treatment), not an open-market sale; the insider ended up with a net increase of 31,548 shares.
• Such withholding transactions are standard tax-related disposals and do not necessarily indicate a change in insider sentiment.