Wall Brett A. 4

What Happened

• Brett A. Wall, EVP & President, Neuroscience at Medtronic, reported the settlement/conversion of performance-vesting share units on May 26, 2026. The filing shows 26,907 shares acquired via conversion of derivative awards (reported at $0) and 24,214 shares disposed (also reported at $0).
• The report lists these as derivative exercises/conversions (transaction code M). Because both transactions are recorded at $0, the Form 4 reports no cash consideration for the conversions/dispositions.

Key Details

• Transaction date: May 26, 2026; Form 4 filed May 28, 2026 (filed two days after the transaction).
• Acquired: 26,907 shares on conversion of performance share units (reported price $0).
• Disposed: 24,214 shares on conversion/disposition (reported price $0).
• Net change from these transactions: +2,693 shares (26,907 acquired minus 24,214 disposed).
• Footnotes of note:
  • F1: Shares issued upon settlement of performance-vesting share units granted July 31, 2023, based on performance certified May 26, 2026.
  • F3: Each performance share unit (PSU) equals one share of Medtronic common stock.
  • F4: The PSUs vested on April 24, 2026.
  • F2: The reporting person’s holdings include 527 shares acquired via dividend reinvestment since the last filing.
• Shares owned after the transaction are not specified in the information provided here.

Context

• These transactions reflect the settlement/conversion of performance-based equity awards (PSUs), not an open-market purchase or sale. Transactions recorded at $0 on Form 4 typically indicate issuance/settlement (and dispositions at $0 often reflect shares withheld or surrendered in connection with settlement or tax obligations), though the filing itself does not state the exact reason for the disposition.
• This activity is routine for executives receiving vested equity awards and does not, by itself, indicate a buy or sell opinion.