Underwood Peter C 4

What Happened

• Peter C. Underwood, Senior Vice President and Chief Legal Officer of Fortive (FTV), exercised 47,557 stock options and simultaneously sold the 47,557 shares on May 4, 2026. The reported exercise cost was $28.92 per share (total $1,375,348) and the shares were sold at a weighted-average price of $60.81 per share (total proceeds $2,891,941). This sequence—exercise followed by an immediate sale—is commonly a cashless exercise and results in net proceeds to the insider.

Key Details

• Transaction date: May 4, 2026.
• Option exercise: 47,557 shares at $28.92 each — $1,375,348 total (code M).
• Sale: 47,557 shares at weighted-average $60.81 each — $2,891,941 total (code S). Sales prices ranged from $60.68 to $61.00 (see footnote).
• Derivative/cancellation entry: a $0.00 disposal line reflects conversion/retirement of the option instrument on exercise.
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: Form 4 filed May 6, 2026 for May 4 trades — within the standard two-business-day reporting window (timely).
• Notable footnote: The options trace back to Danaher grants (May 15, 2016) converted at the Fortive spin-off and later adjusted for anti-dilution after subsequent spin-offs (see filing footnote).

Context

• Because the exercised shares were promptly sold, this is a cashless exercise rather than a long-term purchase of stock — common for option holders converting compensation into cash. Routine exercises and sales by executives can reflect tax or personal financial planning and should not be read alone as a definitive signal about company prospects.