Bracken Cristin C. 4

What Happened

• Cristin Bracken, Chief Legal Officer of Gates Industrial (GTES), exercised stock options on Feb 17, 2026. The exercises resulted in the issuance of 70,362 ordinary shares at various strike prices (aggregate exercise cost ≈ $1,062,281).
• To satisfy the exercise price and tax withholding, the company withheld 52,644 shares (valued at $27.33 each, total ≈ $1,438,761), leaving Bracken with a net increase of 17,718 shares. No ordinary shares were sold in the open market.

Key Details

• Transaction date: 2026-02-17. Market price used for withholding: $27.33 per share.
• Options exercised (examples): 9,536 @ $13.44, 9,536 @ $20.16, 9,762 @ $16.46, 11,190 @ $12.60, 20,802 @ $15.00 (total 70,362 shares; total exercise cost ≈ $1.06M).
• Shares withheld for taxes/exercise (net settlement): 52,644 shares (total withholding value ≈ $1.44M).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1 = exercised prior to expiration; F2 = shares withheld to satisfy exercise price and tax withholding via net settlement (no open-market sale); F3 = amount was fully vested.
• Filing timeliness: Form filed Feb 19, 2026 (timely; within the typical 2-business-day reporting window).

Context

• This was an option exercise with net settlement (company withheld shares to cover costs and tax obligations). The filing shows the option instruments were converted and withheld shares used—there was no reported open-market sale.
• Such exercises are often routine (e.g., vesting or exercising ahead of expiration) and do not by themselves indicate a change in insider sentiment.