Stone Warren 4

What Happened

• Stone Warren, President & Chief Operating Officer (reported as COO), converted/exercised a total of 36,548 derivative awards (28,105 shares on Feb 21, 2026 and 8,443 shares on Feb 23, 2026). The reported dollar price for these entries is $0.00, indicating conversion/vesting rather than an open-market purchase.
• To satisfy tax withholding obligations, 10,465 shares were withheld by the issuer (7,142 on Feb 21 and 3,323 on Feb 23). After withholding, Warren’s net increase in beneficially owned shares from these transactions is 26,083 shares.
• These transactions appear to be award conversions/vestings with share withholding for taxes (routine), not open-market sales.

Key Details

• Transaction dates: Feb 21, 2026 and Feb 23, 2026 (reported on Form 4 filed Feb 24, 2026). Filing appears timely.
• Reported prices: $0.00 for all entries (conversion/vesting or non-cash exercise events).
• Shares acquired (gross): 36,548; shares disposed (withheld for taxes): 10,465; net +26,083 shares.
• Notable footnotes: F1 explains restricted stock units convert into common stock on vesting; F2 confirms the dispositions were withholding to satisfy tax obligations. Additional footnotes (F3, F16, F18, F19, etc.) describe prior grants and modified vesting schedules after promotion.
• Shares owned after the transaction: not provided in the excerpt.

Context

• M = exercise or conversion of a derivative; F = disposition to satisfy tax withholding. Here, "exercise/conversion" likely reflects RSU/award vesting or conversion of derivative awards into common stock, with shares withheld to cover taxes (a routine administrative action).
• Because the transactions were internal conversions and withholding (reported at $0), they are not the same as an open-market purchase (which might be viewed as a bullish signal) nor a sale of shares to obtain cash.
• These filings are factual records of award vesting/conversion and tax withholding; they do not, by themselves, indicate the officer's view of the company's stock.