Morrissey Joseph T. Jr. 4

What Happened

• Joseph T. Morrissey Jr., Interim CEO of Organon & Co. (OGN), had 9,752 restricted stock units (RSUs) convert into shares on March 29, 2026 (reported on Form 4 filed 2026-03-31). To satisfy tax withholding, 2,779 of those shares were withheld/sold at $5.84 per share, generating about $16,229. Net shares delivered to Morrissey after withholding were 6,973 (9,752 - 2,779).
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion into shares, no cash exercise price), F = shares withheld/sold to cover tax liability.

Key Details

• Transaction date: 2026-03-29; Filing date: 2026-03-31 (appears within the normal reporting window).
• Prices and values: Tax withholding reported at $5.84 per share (closing price on 2026-03-27) for 2,779 shares = $16,229.
• Shares acquired via conversion: 9,752 RSUs → 9,752 shares (gross); 2,779 shares withheld; net received = 6,973 shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 confirms the $5.84 per-share figure is the closing market price on 2026-03-27; F2 notes each RSU equals one share; F3 notes the RSUs vest in three equal installments (3/29/2025, 3/29/2026, 3/29/2027).

Context

• This was not an open-market purchase; it was the scheduled vesting/conversion of RSUs. The withholding of shares to cover taxes (code F) is a routine administrative step and not necessarily a market sentiment signal.
• For retail investors, the key takeaways are the number of shares added to the insider’s holdings (net 6,973) and that the reported disposal (2,779 shares) was solely for tax withholding rather than an intentional sale for liquidity.