Murphy USA Director David Miller Receives 51.031 RSUs

What Happened
David B. Miller, a director of Murphy USA Inc. (MUSA), was granted 51.031 restricted stock units (RSUs) on September 30, 2026. The Form 4 reports the award as a derivative acquisition at $0.00 per share (i.e., an equity award, not a cash purchase or sale). These RSUs were issued in lieu of the director's quarterly cash retainer and are fully vested.

Key Details

• Transaction date: 2026-09-30; Filing date: 2026-10-01 (timely filed).
• Amount: 51.031 RSUs granted; acquisition reported at $0.00 per RSU on the Form 4.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes from the filing:
  • Award granted under the 2023 Omnibus Incentive Plan (F1).
  • These securities generally have no conversion price, exercisable date, or expiration (F2).
  • RSUs represent fully vested units issued instead of the director’s quarterly cash retainer; the director elected to defer settlement of the RSUs and any accrued dividend equivalents until termination of Board service (F3).
  • The grant includes dividend equivalent units accrued on the underlying RSUs (F4).

Context
This was a compensation award to a non-employee director (routine director compensation), not a market purchase or sale. Because settlement is deferred until the director leaves the Board, the grant does not create immediate liquidity or indicate an immediate buy/sell action.