Click Christopher A 4

What happened

• Christopher A. Click, EVP, Strategy, Growth & Innovation at Murphy USA (MUSA), had several equity derivative events reported on Feb 11, 2026. The filing shows option/derivative conversions and multiple awards settled in shares (totaling 8,006 shares acquired per the report lines) and a tax-withholding disposition of 798 shares valued at $363.36 each ($289,961).
• Specific reported items: 1,843 shares reported as an exercise/conversion acquisition (M); four awards/grants converted to 6,163 shares (1,944; 1,178; 589; 2,452) reported as acquisitions (A); 1,100 shares reported as an exercise/conversion disposition (M) at $0.00; and 798 shares withheld/disposed to satisfy tax withholding (F) at $363.36/share ($289,961).

Key details

• Transaction date: Feb 11, 2026; Form filed Feb 13, 2026.
• Prices and values: tax-withheld shares 798 @ $363.36 = $289,961; most reported acquisitions/conversions show $0.00 because they were awards/settlements rather than open-market purchases.
• Shares listed as acquired (by conversion/award): 8,006 total (1,843 M + 6,163 A). Shares reported as disposed to cover taxes: 798 (F); an additional 1,100 shares are shown as a derivative disposition at $0.00 in the filing.
• Notable footnotes: the vested performance-based RSUs settled at 165.3% of the original award plus dividend-equivalent shares (F1, F6); shares were withheld for taxes (F2); awards were granted under the 2023 Omnibus Incentive Plan and the 2013 Long-Term Incentive Plan (F3, F7). Some securities are described as not carrying a conversion price/exercisable/expiration date (F5); an option vesting schedule is noted for another award (F4).
• Shares owned after the transactions are not provided in the excerpt supplied.

Context

• This appears to be a routine settlement/vesting and related tax withholding (common when performance-based RSUs vest). The withholding of 798 shares to cover taxes is effectively a cashless settlement to satisfy tax liability. The filing does not show an open-market sale for cash (other than the withholding), so this is not a discretionary sale signal to the market.