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MCGRATH RENTCORP·4

Feb 25, 9:25 PM ET

VAN TREASE KRISTINA 4

Research Summary

AI-generated summary

Updated

McGrath RentCorp (MGRC) CSO Kristina Van Trease Exercises RSUs; Shares Withheld

What Happened

  • Kristina Van Trease, Chief Strategy Officer of McGrath RentCorp (MGRC), had performance- and time-based restricted stock units (RSUs) convert into shares on Feb 23–24, 2026. The filing shows she acquired approximately 6,509 shares via conversion (no cash exercise price) and had about 4,060 shares withheld/sold to cover taxes, generating roughly $462,858 in proceeds. Net shares issued to her were about 2,449 shares after withholding.
  • These were RSU vesting/conversion transactions (derivative exercise/settlement), not open-market purchases. The cash-like component was the tax withholding (code F), which is routine.

Key Details

  • Transaction dates: Feb 23–24, 2026. Filing date: Feb 25, 2026 (timely).
  • Conversion (exercise) price: $0.00 per share (RSUs converted to common stock).
  • Tax withholding sales: 4,060 shares withheld/sold at about $113.07–$114.48 per share, totaling ≈ $462,858.
    • 2/23/2026: 837 shares @ $113.07 = $94,640; 532 shares @ $113.07 = $60,153
    • 2/24/2026: 1,582 shares @ $114.48 = $181,107; 1,109 shares @ $114.48 = $126,958
  • Shares owned after transaction: Not specified in the filing.
  • Footnotes of note:
    • F1: RSUs vest 33%/33%/34% over three years (time-based portion).
    • F2: RSUs include a performance-based vesting component over a three-year period.
    • F3: Conversion date determined by closing price on Feb 24, 2026.
    • F4: Performance RSUs converted at a multiplier: each vested RSU became 159.21% of one share (explains the conversion quantities).
  • Codes explained: M = derivative exercise/settlement (RSU conversion); F = payment of tax liability via share withholding/sale.

Context

  • This is effectively a cashless settlement of RSUs: the units converted into shares (no cash exercise price), and a portion of shares were withheld/sold to satisfy taxes. Such withholding is a routine administrative step and does not necessarily signal insider sentiment about the stock.
  • There is no indication in the filing of a separate open-market sale or a 10% owner transaction; these were award conversions and tax withholdings tied to RSU vesting.