GALVIN KERRY A 4

What Happened

Kerry A. Galvin, a director of Orion S.A. (OEC), was granted 19,150 restricted shares on June 26, 2026. The grant is reported at an acquisition price of $0 (typical for restricted stock awards), so the grant had no immediate cash cost to Galvin. This is an equity award (not a market purchase or sale) and is generally part of compensation/retention programs.

Key Details

• Transaction date: June 26, 2026. Form 4 filed June 30, 2026 (within the normal two-business-day filing window).
• Transaction type/code: Award/Grant (A).
• Shares granted: 19,150 restricted shares; reported acquisition price $0 (value at grant not reflected as cash).
• Shares owned after transaction: Not specified in the provided excerpt.
• Footnote: These restricted shares vest on the day prior to the issuer’s 2027 Annual General Meeting of Shareholders.
• No indication of immediate sale, exercise, tax withholding, or a 10b5-1 plan in the provided filing.

Context

Restricted share awards are common compensation tools for executives and directors; they vest over time (or upon meeting conditions) and may be forfeitable until vested, so they do not necessarily signal the insider’s view on the stock. Purchases by insiders tend to carry more weight for interpreting sentiment; awards primarily reflect compensation or retention policies.