Sarbaugh Keith 4

What Happened

• Keith Sarbaugh, Executive Vice President of Zoetis (ZTS), had RSUs convert to common stock on March 31, 2026. The filing shows a conversion/acquisition of 1,528 RSUs into shares (reported as derivative conversion/exercise).
• As part of the vesting/settlement, 524 shares were surrendered/withheld to cover tax obligations at $118.21 per share, generating $61,942 in proceeds for tax withholding. A related derivative conversion/disposition of 1,528.017 shares is also reported in the filing.

Key Details

• Transaction date: 2026-03-31
• Acquired (conversion of RSUs): 1,528 shares (reported as code M — exercise/conversion of a derivative)
• Tax withholding (code F): 524 shares withheld at $118.21 per share = $61,942
• Additional derivative entry: 1,528.017 shares reported as disposed (reported as derivative)
• Footnotes: RSUs were granted under Zoetis’ equity plan and convert to one share per RSU upon vesting (see notes describing RSU grants and vesting schedule, including a March 31, 2023 grant with one-third vesting each anniversary)
• Shares owned after the transaction: not specified in the provided excerpt
• Filing date: 2026-04-01 (no late filing indicated in the provided data)

Context

• These transactions reflect RSU vesting and routine tax withholding rather than an open-market purchase or a deliberate sale for investment reasons. M indicates conversion/exercise of a derivative (here, RSUs settling into common stock); F indicates shares surrendered to satisfy tax withholding. Such withholding is common when equity awards vest and does not necessarily signal a change in the insider’s market view.