Bracken Cristin C. 4

What Happened

• Cristin C. Bracken, Chief Legal Officer of Gates Industrial (GTES), had time‑based restricted stock units (TBRSUs) vest on March 4, 2026. 9,975 TBRSUs converted into 9,975 ordinary shares. To satisfy par value and tax withholding obligations, 4,367 shares were withheld at $26.37 per share, totaling $115,158. The filing also shows 18,429 TBRSUs outstanding that remain subject to future vesting.

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06 (timely filing).
• Actions reported: M (exercise/conversion of derivative/TBRSUs), F (shares withheld for tax/par value), A (grant/award or TBRSUs outstanding).
• Shares acquired via conversion: 9,975 shares at $0 exercise price (TBRSU conversion).
• Shares withheld/disposed for taxes: 4,367 shares at $26.37 each = $115,158.
• TBRSUs outstanding after the transaction: 18,429 units (subject to future vesting per filing).
• Footnotes: TBRSUs vested on the grant anniversary; each TBRSU equals a contingent right to one ordinary share and may be settled in shares or cash; the grant vests in three substantially equal annual installments.
• Filing does not indicate an open‑market sale—the withheld shares were used to meet tax/par obligations (routine withholding).

Context

• This was a vesting/conversion and tax‑withholding event (a cashless settlement-style withholding), not a discretionary open‑market sale or purchase. Such withholding is standard when RSUs/TBRSUs vest and does not by itself signal insider buying or selling intent.