Graham Tracy D 4

What Happened
Tracy D. Graham, a director of LCI Industries (LCII), exercised or converted derivative awards for 1,761 shares at $112.42 per share on May 12, 2026 (gross value ≈ $197,972) and the same 1,761 derivative shares were disposed of the same day (a cashless exercise/convert-and-sell). Separately on May 12, 2026 Graham was credited with 1,335 restricted stock units (RSUs)/stock units at $0.00 that vested in full on that date (no cash paid).

Key Details

• Transaction date: May 12, 2026. Form filed May 13, 2026 (timely filing).
• Exercise/derivative: 1,761 shares @ $112.42 = $197,972 (acquired via exercise/convert and then disposed the same day). Transaction code M (exercise/conversion of derivative) and disposition of the derivative.
• Award/grant: 1,335 restricted stock units @ $0.00 (vested in full on May 12, 2026). Transaction code A.
• Shares owned after transaction: not disclosed in the provided excerpt of this filing.
• Footnotes: F1—each stock unit represents a contingent right to one share; F2—74 stock units arose from dividend equivalents paid during 2025–2026; F3—these RSUs vested in full on May 12, 2026; F4—some RSUs have scheduled vesting (by May 12, 2027 or next annual meeting).
• Filing timeliness: filed the day after the transactions — within typical Form 4 timing requirements.

Context
The exercise-plus-immediate-disposition is effectively a cashless or sell-to-cover transaction: options/derivatives were converted and the resulting shares were sold the same day, so this is not a net purchase signaling added long-term ownership. The 1,335 RSUs represent compensation that vested and convert into stock/unit entitlement; such awards are commonplace for directors and reflect pay rather than an independent bullish purchase.