Bacon Renee M 4

What Happened Renee M. Bacon, Senior Vice President & Chief Retail Officer of Murphy USA (MUSA), exercised 2,600 stock options and immediately disposed of all 2,600 resulting shares. Of those shares, 1,550 were withheld by the company to cover the exercise price and applicable taxes (valued at $542.74 per share, totaling $841,247) and 1,050 were sold in the open market on May 27, 2026 at $529.44 per share (proceeds $555,912). Combined cash value from the withholding and sale events was about $1,397,159.

Key Details

• Transaction dates: exercise reported May 26, 2026; open-market sale executed May 27, 2026.
• Prices/values: shares withheld valued at $542.74 each (1,550 shares = $841,247); open-market sale at $529.44 each (1,050 shares = $555,912).
• Total shares from exercise: 2,600; total shares disposed (withheld + sold): 2,600.
• Shares owned after the transactions: not reported in the provided filing.
• Footnotes: transactions were carried out under a Rule 10b5-1 trading plan adopted Feb 23, 2026 (F1); 1,550 shares were withheld by the company to cover exercise price and taxes using the May 25, 2026 closing price of $542.74 (F2).
• Filing timeliness: Form 4 filed May 27, 2026 for transactions on May 26–27, 2026 (appears timely).

Context This was a net option exercise (cashless-style) where options were converted into 2,600 shares and a portion was withheld to cover the exercise price/taxes while the remainder was sold. The use of a pre-established 10b5-1 plan indicates the sales were executed under an automated trading arrangement rather than ad-hoc market timing.