Regnery David S 4

What Happened
David S. Regnery, Chair and CEO of Trane Technologies (TT), received 63,730 shares upon the vesting of performance share units (PSUs) for the 2023–2025 performance period (code A, acquired at $0). To satisfy tax withholding (code F), 27,685 of those shares were surrendered/disposed at an effective value of $445.05 each, totaling $12,321,209. The net effect of these transactions was an increase of 36,045 shares to his holdings from this vesting event (63,730 vested minus 27,685 withheld).

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (within the typical 2-business-day reporting window).
• Award: 63,730 shares vested (performance share units for 2023–2025), acquired at $0.
• Tax withholding: 27,685 shares disposed at $445.05 per share = $12,321,209 withheld/paid.
• Net shares added from this event: 36,045 shares.
• Footnotes: F1 confirms these were PSUs vesting for 2023–2025; F2 notes some shares are held by a revocable trust established by the reporting person's spouse (spouse is trustee and beneficiary).
• Filing timeliness: filed March 6, 2026 for a March 4 transaction (appears timely).

Context
This was not an open-market sale but a routine vesting of performance awards with shares withheld to cover tax obligations (a common “cashless withholding” mechanism). Such tax-withholding dispositions are administrative and do not necessarily signal the insider’s view on the stock.