Watters Don C. 4

What Happened
Don C. Watters, a director of Marcus & Millichap, Inc. (MMI), was granted 2,698 shares on April 30, 2026. The grant price/value is listed at $27.79 per share, for a total value of approximately $74,977. This transaction is coded as an award/grant (A) — an acquisition through compensation rather than an open-market buy.

Key Details

• Transaction date and price: 2026-04-30; 2,698 shares at $27.79 each (total ~$74,977).
• Transaction type/code: Grant / Award (Code A).
• Vesting/restrictions: These shares vest on the first anniversary of the grant (Footnote F1).
• Ownership after transaction: Not specified in the filing.
• Beneficial ownership note: Shares are held by the Don C. Watters and Susan W. Watters Revocable Trust dated 10/20/1998; Mr. Watters, as trustee, may be deemed to have beneficial ownership (Footnote F2).
• Filing timeliness: Report filed 2026-05-04 for a 2026-04-30 transaction; this filing appears to be timely (within required Form 4 reporting window).

Context
This was a compensation grant (restricted or time‑vesting award) rather than a market purchase or sale. Such grants are common for directors as part of pay/retention and do not by themselves indicate a buy or sell decision in the open market. The one‑year vesting schedule means the shares are not immediately transferable until they vest.