Connolly Michael Colin 4

What Happened
Michael Connolly, President & Chief Executive Officer of Cousins Properties (CUZ), was granted 102,404 restricted shares on 2026-02-13 at a reported value of $22.46 per share (total ≈ $2,299,994). On 2026-02-17, 31,044 shares were withheld/disposed at the same per-share value to satisfy the tax withholding obligation (proceeds ≈ $697,248). The grant is recorded as an award (Form 4 code A) and the share withholding is reported as a tax payment (code F).

Key Details

• Transaction dates and prices:
  • 2026-02-13: Award of 102,404 restricted shares @ $22.46 (≈ $2,299,994)
  • 2026-02-17: 31,044 shares withheld/disposed @ $22.46 (≈ $697,248) to pay tax liability
• Shares owned after transaction: Not specified in the filing.
• Vesting and restrictions: Footnote F1 states the awarded restricted shares vest equally over three years (annual vesting) and CPI will hold the shares until they vest; the reporting person retains dividend and voting rights on unvested shares; unvested shares forfeit upon termination.
• Other footnotes: Filing notes additional restricted stock awards included in his holdings (F2 and F4 reference 243,164 and 173,466 restricted shares, respectively). F3 confirms the share withholding was solely to satisfy tax withholding under the 2019 Omnibus Incentive Stock Plan.
• Timeliness: Report filed 2026-02-17 for transactions dated 2026-02-13 and 02-17; the filing date appears to comply with the Form 4 reporting window.

Context
This was a standard equity compensation event (restricted stock grant) rather than an open-market purchase or sale. The 31,044-share disposition was a routine tax-withholding action tied to the grant (a common mechanism that reduces outstanding granted shares to cover taxes). Such awards are compensation-related and do not, by themselves, indicate a market view.