Bishop Rachel Rothe 4

What Happened

• Rachel Rothe, a director of Sally Beauty Holdings, reported transactions on 2026-01-22 showing (1) an exercise/conversion of 14,532 derivative shares (acquired) and a matching disposal of 14,532 derivative shares the same day, and (2) receipt of a grant of 9,975 restricted stock units (RSUs). All reported per-share prices are $0.00 (total reported values $0).
• The RSUs are awards (grant code A) that convert one-for-one into common stock when vested; the exercise/conversion and same-day disposition of the 14,532 shares indicates the converted shares were not held long-term.

Key Details

• Transaction date: 2026-01-22. Form 4 filed: 2026-01-26 (filed within the SEC’s typical 2-business-day window).
• Prices reported: $0.00 per share for all items; reported dollar amounts $0.
• Shares reported: 14,532 shares acquired by exercise/conversion and 14,532 shares disposed the same day; 9,975 RSUs granted.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnotes: F1 — RSUs convert into SBH common stock on a one-for-one basis. F2 — 100% of the RSUs will vest on the earlier of 1/22/2027 or the issuer’s next Annual Meeting of Stockholders.

Context

• The matching acquisition and disposal of 14,532 derivative shares on the same date commonly reflects a cashless exercise, net-settlement, or immediate sale of converted shares rather than a held purchase; the filing itself does not state the motive.
• The 9,975 RSUs are an award subject to future vesting and do not represent immediately tradable shares until they vest and convert. Awards and routine option exercises by officers/directors are common forms of compensation and do not necessarily signal a change in insider sentiment.