Bacon Renee M 4

What Happened

• Renee M. Bacon, SVP, Sales & Operations at Murphy USA (MUSA), had performance-based awards vest and converted to shares on Feb 11, 2026, and sold 1,219 of those shares in the open market on Feb 13, 2026.
• Details: 2,011 shares were acquired via exercise/conversion (no exercise price). Of those, 792 shares were withheld to cover taxes (valued at $363.36/share, $287,781) and 1,219 shares were sold on 2026-02-13 at $386.09/share for proceeds of $470,644.
• The filing also reports multiple awards/grants (RSUs/PSUs and other derivative awards) issued or settled on 2026-02-11 (totaling several grant lots noted in the Form 4).

Key Details

• Transaction dates/prices: vest/convert on 2026-02-11 (acquired shares at $0.00); tax withholding on 2026-02-11 at $363.36; open-market sale on 2026-02-13 at $386.09.
• Tax withholding: 792 shares withheld to satisfy tax liability on PSU vesting (footnote F2); value $287,781.
• Sale method: 1,219-share sale effected under a Rule 10b5-1 trading plan adopted Aug 11, 2025 (footnote F3).
• Awards: several grants/settlements reported under the Company's incentive plans (see footnotes F1, F4, F7, F8 for PSU/RSU and plan details).
• Shares owned after transaction: not specified in the Form 4 filing.
• Filing timeliness: Form 4 filed on Feb 13, 2026 for transactions occurring Feb 11–13, 2026 (filed within the usual 2-business-day window).

Context

• What “exercise/conversion” and withholding mean: performance-based restricted stock units (PSUs) vested and settled into shares (F1); some of those shares were withheld to cover taxes (F2), and the remainder were sold under a pre-existing 10b5-1 plan (F3). This is a routine insider liquidity event following vesting, not an explicit signal of company sentiment.