Kulp Michael G. 4

What Happened Michael G. Kulp, a director of Murphy USA (MUSA), was granted 421 shares as a derivative award on February 12, 2026. The award is reported as an acquisition at $0.00 (code A — award/grant), meaning Kulp did not pay a purchase price for these securities. The filing lists the transaction as a derivative award rather than a market purchase or sale.

Key Details

• Transaction date: 2026-02-12; Form 4 filed: 2026-02-17 (period of report: 2026-02-12).
• Transaction type/code: Award/Grant (A); reported as "Acquired" (Derivative) at $0.00 per share.
• Shares granted: 421. Shares owned after transaction: not disclosed in the provided data.
• Footnote F1: Award granted under the 2023 Omnibus Incentive Plan.
• Footnote F2: These securities generally do not carry a conversion price, exercisable date, or expiration date (consistent with restricted stock/RSU-style awards).
• Filing timeliness: filed within the reported period (no late filing indicated).

Context This is a compensation-related equity award for a director, commonly used to align management/director interests with shareholders. Because it is an award (not an open-market purchase), it should be interpreted as routine compensation rather than a direct market sentiment signal. The lack of a purchase price and the F2 note suggest the award is structured as restricted stock or RSUs (no exercise/expiration features).