Sarbaugh Keith 4

What Happened
Keith Sarbaugh, Executive Vice President of Zoetis (ZTS), had restricted stock units (RSUs) vest and be converted into common shares on Feb 6, 2026. The filing shows 119 shares were acquired upon vesting, and 48 of those shares were withheld/disposed to cover tax withholding at $127.42 per share, totaling $6,116. The net result is roughly 71 shares retained by the insider from this vesting event. The filing also lists a separate derivative conversion line of ~119.45 shares (recorded as disposed) related to RSU/derivative settlement.

Key Details

• Transaction date: February 6, 2026; Form 4 filed February 10, 2026 (appears 4 days after the transaction; this may exceed the typical 2-business-day reporting window).
• Primary codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax withholding.
• Shares acquired on vesting: 119 (converted from RSUs).
• Shares withheld/disposed for taxes: 48 at $127.42 each = $6,116.
• Net shares received (approx.): 119 - 48 = ~71 shares retained.
• Shares owned after transaction: Not disclosed in the provided filing excerpts.
• Notable footnotes: RSUs represent contingent rights to receive one share upon vesting (see F1–F4, F6–F7 for grant and vesting schedules); withholding is a routine tax-payment mechanism rather than an open‑market sale.

Context

• The "M" derivative entries reflect RSU vesting/settlement (not an exercise of tradable stock options) and the "F" entry reflects shares retained/forfeited to satisfy tax withholding — a common, non-market-sale method to pay withholding tax.
• Such vesting/withholding transactions are typically compensation-related and do not necessarily signal a change in the insider's market view; outright purchases are generally considered more informative about bullish sentiment.
• If timely reporting is important to you, note the filing date relative to the transaction date and check the full Form 4 for any late-reporting designation or explanations.