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BRINKS CO·4

Apr 30, 7:33 PM ET

Herling Michael J 4

Research Summary

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Updated

BRINKS (BCO) Director Michael Herling Converts DSUs to 3,422 Shares

What Happened

  • Michael J. Herling, a director of BRINKS CO (BCO), had Deferred Stock Units (DSUs) vest and converted them into company common stock on April 28, 2026.
  • The filing shows conversions/awards totaling 3,422 shares acquired at $0.00 (1,844 shares reported as an acquisition and immediate disposition, and an additional 1,578 shares granted/converted).
  • These were not open-market purchases or option exercises for cash — they reflect settlement of previously awarded DSUs rather than a cash transaction.

Key Details

  • Transaction date: 2026-04-28; Form 4 filed: 2026-04-30 (timely filing).
  • Reported prices: $0.00 per share (typical for DSU settlement); total dollar amount reported = $0.
  • Share counts in this filing: 1,844 shares acquired (conversion), 1,844 shares disposed (same day, per filing), and 1,578 shares granted/converted — total 3,422 shares reported as acquired or converted.
  • Shares owned after the transaction: not specified in the provided filing details.
  • Footnotes from the filing:
    • The conversions reflect DSUs converting into common stock upon vesting (each DSU = one share).
    • The DSU award was granted May 8, 2025 and vested in full April 28, 2026.
    • DSUs vest per the 2024 Equity Incentive Plan/Award Agreement and are settled one-for-one in common stock; DSUs are forfeited if the director stops serving before vesting.
  • The filing does not state the reason for the immediate disposition of the 1,844 shares.

Context

  • DSU conversions at $0 indicate settlement of previously granted deferred stock units rather than a market purchase; such awards are commonly part of director compensation.
  • Because part of the conversion was immediately disposed of per the filing, that portion does not necessarily indicate a change in the director’s net exposure; the filing gives no explanation for the disposition.
  • These transactions are administrative (vesting/settlement) rather than market trades; retail investors typically view granted/vesting DSUs as compensation recognition, not a direct buy signal.