Reed Steven William 4

What Happened

• Director Reed Steven William received a grant of 332 deferred stock units (DSUs) on July 6, 2026. The award is recorded at $19.79 per unit for a total value of $6,570. The transaction is reported as an award/grant (code A) and is a derivative instrument rather than an immediate issuance of common shares.

Key Details

• Transaction date: 2026-07-06; Filing date (Form 4): 2026-07-07 (timely filing).
• Security: Deferred Stock Units (DSUs) — derivative units economically equivalent to common shares.
• Quantity/price/value: 332 DSUs @ $19.79 = $6,570.
• Shares owned after transaction: Not specified in the provided excerpt.
• Footnotes:
  • F1: Each DSU is the economic equivalent of one share and becomes payable (in cash, common stock, or a combination) under the Issuer's Directors Preferred Compensation Plan.
  • F2: Ownership figures have been adjusted to include shares from a dividend reinvestment program since the last report (where applicable).

Context

• DSUs are deferred compensation for directors and typically convert to cash or stock at a later date per the company plan; they are not an immediate open‑market purchase or sale. Awards like this are routine director compensation and should be interpreted as compensation, not a direct buy/sell signal.