FULLER JULIE 4

What Happened

• Julie Fuller, Executive Vice President of Zoetis (ZTS), had restricted stock units (RSUs) convert/vest on February 19, 2026. The filing shows conversions of 750 and 750.426 RSU-derived shares (derivative exercise/conversion).
• To satisfy tax withholding, 290 shares were disposed at $127.28 per share for a total value of $36,911. The remainder of the vested shares were issued to the reporting person.

Key Details

• Transaction date: 2026-02-19; Form 4 filed 2026-02-23 (timely).
• Reported entries: two "M" transactions (exercise/conversion of derivatives) for 750 and 750.426 shares; one "F" transaction (payment of tax liability) disposing 290 shares @ $127.28, totaling $36,911.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes indicate these shares originated from RSUs granted under the Zoetis Amended and Restated 2013 Equity and Incentive Plan, with standard multi-year vesting schedules and dividend equivalent units (see F1–F7).
• Transaction codes: M = exercise/conversion of derivative (here, RSU settlement); F = shares withheld/sold to cover tax withholding.

Context

• This appears to be a routine RSU vesting and tax-withholding event, not an open-market sale for investment purposes. Withholding/sale of shares to cover taxes is common and does not necessarily signal a change in insider sentiment.
• When RSUs are settled, companies often withhold (or sell) a portion of shares to pay required taxes rather than asking the executive to pay cash; that is what the "F" entry indicates here.