Martell James J 4

What Happened
James J. Martell (Director) had derivative securities converted/settled and received a new RSU award on March 31, 2026. The filing shows a conversion/settlement of 66,073 derivative units (code M) into shares and a simultaneous disposition of 66,073 derivative shares reported at $0.00 (no cash proceeds reported). On the same date he was granted 54,773 restricted stock units (RSUs) at $0.00 under the Issuer's 2022 Omnibus Equity Incentive Plan; those RSUs are scheduled to vest on March 31, 2027, subject to continued service.

Key Details

• Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (timely — within the usual two-business-day window).
• Converted/settled: 66,073 derivative units (code M); 66,073 shares reported disposed at $0.00 (no cash value shown).
• Grant: 54,773 RSUs (code A) granted at $0.00, vesting 3/31/2027 if service continues.
• Shares owned after the transactions: not specified in the provided filing details.
• Footnotes: F1 indicates the conversion involved settlement of RSUs into Class A common stock on their scheduled vesting date; F2 describes the new RSU grant and its 3/31/2027 vesting schedule.

Context

• Code M denotes exercise or conversion of a derivative security; the filing shows conversion/settlement of RSUs and a matching disposition reported at $0, which does not show cash proceeds in the Form 4.
• The new RSUs are awards that vest over time (one-year cliff to 3/31/2027 per the footnote) and do not represent an immediate purchase or sale by the insider.
• These types of settlements and subsequent grants are commonly part of executive/director compensation and do not by themselves indicate the insider’s market view.