Fauber Robert 4

What Happened
Robert Fauber, President and CEO of Moody's (MCO), exercised stock options and sold shares on April 1, 2026. He exercised options to acquire 592 shares at $113.34 (cost $67,097) and 575 shares at $167.50 (cost $96,313) — 1,167 shares acquired for about $163,410 in aggregate. He sold three lots (300, 592 and 575 shares) in open‑market sales at $437.77 per share for total gross proceeds of approximately $642,209. The filing also shows the corresponding derivatives (592 and 575 option units) as disposed at $0.00, reflecting option conversion/exercise.

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (period of report Apr 1, 2026).
• Sale price(s): $437.77 per share for 300, 592 and 575‑share sales; total sale proceeds ≈ $642,209.
• Exercise prices and amounts: 592 shares at $113.34 ($67,097) and 575 shares at $167.50 ($96,313); total exercise cost ≈ $163,410.
• Derivative entries: two derivative dispositions (592 and 575 units) reported at $0.00 consistent with exercise/conversion.
• Footnotes: F1 — sales/exercises were pursuant to a Rule 10b5‑1 plan adopted July 30, 2025; F2 — options vest one‑fourth each year per plan terms.
• Shares owned after the transactions: not specified in the provided excerpt.
• Filing timeliness: not indicated in the provided excerpt.

Context
These transactions combine option exercises with immediate open‑market sales (common when executives exercise vested options and monetize proceeds). The presence of a Rule 10b5‑1 plan (F1) indicates the trades were pre‑arranged, which investors typically treat as a routine liquidity event rather than an ad‑hoc market signal. The F2 note explains the options’ vesting schedule (one‑fourth per year).