Piell Hilda Harris 4

What Happened
Hilda Piell, Senior Managing Director and Chief Human Resources Officer at CME Group, received 7,076 performance shares that vested on March 15, 2026 (awarded value: 7,076 × $311.40 = $2,203,466). To satisfy tax-withholding obligations related to the award, she surrendered 3,039 of those shares back to the company (3,039 × $311.40 = $946,345). Net, Piell retained 4,037 shares from this vesting event (approximately $1.26M at the grant price). These transactions reflect a performance-share vesting (award) and routine tax withholding, not an open-market purchase or sale.

Key Details

• Transaction dates and prices: March 15, 2026 — Award: 7,076 shares @ $311.40; Tax withholding (surrender): 3,039 shares @ $311.40.
• Reported values: Award ≈ $2,203,466; Surrendered for tax ≈ $946,345; Net retained ≈ 4,037 shares (~$1.26M).
• Shares owned after transaction: Not disclosed in the Form 4; net increase from this vesting = 4,037 shares.
• Footnotes: (F1) Vesting of 2022 performance shares under CME’s Omnibus Stock Plan based on total shareholder return vs. the S&P 500 for 1/1/2023–12/31/2025. (F2) Shares were surrendered to the company to cover tax withholding.
• Filing timeliness: The Form 4 was filed on March 17, 2026 for transactions on March 15, 2026 (filed within the required reporting window).

Context
This was a performance-share vesting event (award) with a routine tax-withholding surrender—common for executives receiving equity compensation. Such awards are compensation-based and reflect plan performance metrics; they are not direct market purchases or discretionary sales and therefore should be interpreted as compensation realization rather than a straightforward buy/sell signal.