CHUMLEY ROBERT J 4

What Happened
Robert J. Chumley, Senior VP of Innovation at Murphy USA (MUSA), had performance-based and other equity awards vest/convert on Feb 11, 2026. A total of 1,843 shares were acquired on conversion/settlement of derivative awards. To cover tax withholding, 798 shares were surrendered (disposed) at $363.36 per share for total proceeds/withholding of $289,961. Several other award-related entries (grants/conversions) appear the same day, and a separate conversion/disposition of 1,100 derivative shares is listed with no cash value reported.

Key Details

• Transaction date: Feb 11, 2026; Form 4 filed Feb 13, 2026 (appears timely).
• Acquired: 1,843 shares via exercise/conversion/grant at $0.00 reported.
• Withheld/Disposed for taxes: 798 shares at $363.36 each = $289,961 (code F: tax withholding).
• Other entries that day: awards/grants of 1,315; 797; 399; and 1,226 shares (all reported as derivative acquisitions at $0.00) and a 1,100-share exercise/conversion marked disposed with $0 value.
• Shares owned after the transactions: not specified in the provided filing extract.
• Relevant footnotes: F1 indicates performance-based RSUs vested and settled (paid at 165.3% of target plus dividend equivalents); F2 confirms shares withheld for taxes; F3/F7 indicate awards under company incentive plans; F5/F6 note certain derivative features/dividend equivalents; F4 describes typical option vesting schedule.

Context
This was primarily a vesting/settlement event (performance and restricted stock units) with routine tax withholding — not an open-market sale. The F1 note shows the performance-based award paid above target (165.3% of original), which increased the number of shares received. Withholding to satisfy tax obligations is common and does not necessarily indicate a bearish insider signal.