Bender Kurt A. 4

What Happened

• Kurt A. Bender, Senior Vice President & Chief Digital Officer of BWX Technologies (BWXT), had 100 shares issued to him on February 26, 2026 via exercise/conversion of a derivative (report code M). No exercise price was reported ($0.00), indicating these shares were likely settled from restricted stock/units rather than a paid option.
• To cover tax withholding, 29 of those shares were disposed (report code F) at $208.27 per share, for proceeds/withholding value of $6,040. The Form 4 also lists the derivative instrument as converted/disposed (additional M entry), reflecting the conversion/settlement event.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (filed within the normal two-business-day window).
• Shares received: 100 shares via exercise/conversion (M) at $0.00 per share.
• Shares withheld/sold for taxes: 29 shares at $208.27 each, totaling $6,040 (F — tax withholding).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: RSUs vest in three equal annual installments beginning February 26, 2026 (F1) — this indicates the issuance is part of a multi-year RSU award.
• Transaction codes explained: M = exercise/conversion of a derivative; F = payment of exercise price or tax liability (share withholding/sale).

Context

• This appears to be a routine vesting/settlement and tax-withholding event rather than an open-market buy or discretionary sale. The $0.00 exercise price and the RSU footnote suggest shares were issued as vested equity (not purchased).
• The 29-share disposal is a standard withholding to satisfy tax obligations and should not be read as a vote of confidence or sell signal by itself.