MIDDLEBY (MIDD) Director Stephen R. Scherger Receives RSU Conversion

What Happened

• Stephen R. Scherger, a director of MIDDLEBY Corp (MIDD), received a conversion of derivative securities on July 20, 2026. Per the filing, 1,161 RSUs were adjusted into 1,510 RSUs, a net increase of 349 shares. No purchase price or cash changed hands (price listed as N/A) — this was an adjustment/conversion, not an open-market buy or sale.

Key Details

• Transaction date: 2026-07-20; Form 4 filed: 2026-08-28 (filed late relative to the trade date).
• Transaction type/code: Conversion of a derivative security (C).
• Shares acquired via conversion: 349; resulting RSU holding after conversion: 1,510 (from 1,161).
• Footnote: The RSU adjustment was required by the Employee Matters Agreement related to the spin-off of Midera Food Processing, Inc., completed July 6, 2026.
• No price or dollar value reported; no sale or cash exercise occurred.

Context

• This was a contractual adjustment tied to a corporate spin-off, not a market purchase or sale — such adjustments are routine and reflect changes in award terms rather than an insider betting for or against the stock.
• The late filing (transaction on July 20, filed Aug 28) is a compliance note; late Form 4s can draw SEC attention or administrative penalties but do not change the nature of the transaction.