Bowes Timothy Earl Joseph 4

What Happened

• Timothy E. J. Bowes, President, Global Industrial Coatings at Axalta (AXTA), had restricted stock units (RSUs) convert into 7,722 common shares on February 28, 2026 (two conversions: 4,027 and 3,695 shares). To satisfy tax withholding, 3,551 shares were withheld (1,854 at $33.41 = $61,942; 1,697 at $33.41 = $56,697), totaling $118,639. The conversion/derivative entries are reported with $0 exercise price (conversion of RSUs), resulting in a net issuance to Bowes of 4,171 shares.

Key Details

• Transaction date: February 28, 2026; Form 4 filed March 3, 2026.
• Conversions: 4,027 and 3,695 RSUs converted to common shares (codes M).
• Shares withheld for taxes (code F): 1,854 and 1,697 shares withheld at $33.41 each, totaling $118,639.
• Net new shares to insider after withholding: 7,722 − 3,551 = 4,171 shares.
• Shares owned after the transaction: not disclosed in the filing.
• Footnotes: F1 — RSUs convert one-for-one to common shares; F2 — withheld shares used to satisfy tax withholding on vesting; F3/F4 — original RSU grants on Feb 28, 2023 (12,081 RSUs) and Feb 28, 2024 (11,085 RSUs) with multi-year vesting schedules.
• Filing timeliness: Form filed March 3, 2026; the filing date is shown on the report (no late-filing flag provided in the filing text).

Context

• This was a routine RSU vesting and net settlement for taxes (shares withheld), not an open-market sale. The derivative entries reflect conversion of RSUs into shares rather than exercising stock options for cash; withheld shares satisfied tax obligations rather than indicating a market sale. Such net settlements are common when equity awards vest and do not necessarily signal insider sentiment.