Wyche Keith R 4

What Happened

• Director Wyche Keith R had Deferred Stock Units (DSUs) vest and convert into common stock on April 28, 2026. The Form 4 reports a conversion/exercise-type derivative entry for 1,844 shares (reported as both acquired and disposed) and a DSU award/settlement acquisition of 1,578 shares. All transactions were at $0.00 (settled in stock), resulting in a net increase of 1,578 shares held by the director.

Key Details

• Transaction date: 2026-04-28; Form 4 filed 2026-04-30 (appears timely).
• Reported entries: Exercise/conversion (M) 1,844 shares acquired @ $0.00; Exercise/conversion (M) 1,844 shares disposed @ $0.00 (derivative); Grant/award (A) 1,578 shares acquired @ $0.00.
• Net change in beneficial ownership: +1,578 shares (1,844 acquired − 1,844 disposed + 1,578 acquired).
• Price/consideration: $0.00 — shares were issued/settled via DSUs, not purchased for cash.
• Footnotes: DSUs convert one-for-one into common stock on vesting; the 1,578-DSU award was granted May 8, 2025 and vested in full Apr 28, 2026. DSUs are subject to the 2024 Equity Incentive Plan and may be forfeited if the director leaves the board before vesting.
• Shares owned after transaction: Not specified in the provided filing.

Context

• These entries reflect DSU vesting/settlement (derivative conversions and award settlement), not open-market buys or sales; no cash changed hands. Reporting of both an acquired and disposed derivative amount often reflects conversion/settlement mechanics and does not necessarily indicate a market sale for proceeds. This is routine compensation-related issuance to a director rather than a purchase signal from personal funds.