MCCALLISTER MICHAEL B 4

What Happened
Michael B. McCallister, a director of Zoetis Inc. (ZTS), had restricted stock units (RSUs) vest and convert into shares on February 19, 2026. The filing reports an acquisition (conversion) of 1,619 RSU-based shares (code M). To satisfy tax withholding, 413 of those shares were disposed (code J) to the company at $127.28 per share for proceeds of $52,567. The report also lists a related conversion/disposition of 1,619.333 RSU/derivative units (code M) per the filing footnotes.

Key Details

• Transaction date: February 19, 2026; Form filed February 23, 2026.
• Reported transactions: conversion/acquisition of 1,619 shares (code M); disposition of 413 shares at $127.28 (code J) for $52,567; a related conversion/disposition of 1,619.333 derivative units (code M).
• Price per share for the disposition: $127.28. Total reported cash from that disposition: $52,567.
• Footnotes: transactions reflect RSU vesting/settlement under Zoetis’s equity plan, and the 413-share disposition is a company withholding/surrender to cover taxes (see F1–F2, F5–F9).
• Shares are held in family and revocable trusts for the reporting person and spouse (see F3–F4).
• The filing does not indicate a standard open‑market sale by the insider — the sale was a withholding/surrender to the company tied to RSU settlement.

Context

• These transactions are a routine RSU vesting and tax-withholding event, not necessarily an indication of the director buying or actively selling stock in the open market.
• Code M indicates conversion/exercise of derivative units (here, RSUs converting into common shares); code J indicates other acquisition/disposition (here, surrender/withholding for taxes).
• For retail investors: purchases or open-market buys by insiders are often more meaningful as bullish signals; withholding-surrenders at vesting are standard administrative actions.