Hasan Kazi 4

4 · OPAL Fuels Inc. · Filed Apr 2, 2026

Research Summary

AI-generated summary of this filing

Updated Apr 2, 2026

OPAL Fuels CFO Hasan Kazi Receives RSU Shares (Vesting, Taxes)

What Happened

Hasan Kazi, Chief Financial Officer of OPAL Fuels (OPAL), had restricted stock units (RSUs) vest on March 31, 2026. The vesting resulted in the conversion/settlement of approximately 220,244 RSUs into shares. To satisfy tax withholding requirements, the company withheld about 79,397 shares (valued at $2.52 per share, totaling ~$200,080), leaving roughly 140,847 shares delivered to Kazi.
The Form 4 records conversion/settlement entries (transaction code M), tax-withholding share disposals (code F), and simultaneous new equity awards (code A) granted on March 31, 2026 (additional RSUs and an option grant with a $2.52 exercise price that vest in future years).

Key Details

Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (appears timely).
Vested/converted: ~73,415 and ~146,829 RSUs (total ~220,244).
Tax withholding: ~26,466 and ~52,931 shares withheld at $2.52/share (total cash value ≈ $66,694 + $133,386 ≈ $200,080).
Net shares delivered to insider: ≈140,847 shares (220,244 vested − 79,397 withheld).
New grants recorded same day: RSU awards (≈182,579 and ≈101,988 RSUs) and an option grant exercisable at $2.52/share that vests over future dates (see footnotes F3–F9).
Shares owned after transaction: Not specified in the provided filing excerpts.
Notable footnotes: F1–F5 explain these are RSUs (one RSU = one share at settlement); F2 confirms tax-withholding via share surrender; F7 describes an option grant with $2.52 exercise price and future vesting/acceleration provisions.

Context

These entries reflect RSU vesting and settlement (common executive compensation events) and a share-for-tax-withholding mechanism—not an open-market buy or sell. The tax withholding used company shares rather than a cash payment (a routine practice).
The filing also records new equity awards and an option grant that vest in future years; those are not exercised now and do not indicate an immediate purchase or sale.

Insider Transaction Report

Form 4

Period: 2026-03-31

OPAL Fuels Inc.OPAL

Hasan Kazi

Chief Financial Officer

Transactions

Exercise/Conversion
Class A common stock
[F1]
2026-03-31+73,415→ 73,415 total
Tax Payment
Class A common stock
[F2]
2026-03-31$2.52/sh−26,466$66,694→ 46,949 total
Exercise/Conversion
Class A common stock
[F1]
2026-03-31+146,829→ 193,778 total
Tax Payment
Class A common stock
[F2]
2026-03-31$2.52/sh−52,931$133,386→ 140,847 total
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-03-31−73,415→ 146,828 total
→ Class A common stock (73,415 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-03-31−146,829→ 146,828 total
→ Class A common stock (146,829 underlying)
Award
Restricted Stock Units
[F5]
2026-03-31+182,579→ 182,579 total
→ Class A common stock (182,579 underlying)
Award
Stock options (right to buy)
[F6][F7][F8][F9][F10]
2026-03-31+101,988→ 101,988 total
Exercise: $2.52Exp: 2036-03-31→ Class A common stock (101,988 underlying)

Footnotes (10)

[F1]Each restricted stock unit represents the right to receive, at settlement, one share of Class A common stock. This transaction represents the settlement of restricted stock units in shares of Class A common stock on their scheduled vesting date.
[F10]Upon the occurrence of a termination by reason of the Reporting Person's death, any unvested portion of the Option shall accelerate and vest in full.
[F2]Represents the shares held by the Company to satisfy tax withholding requirements on vesting of restricted stock units. The total value of securities withheld was based on a price of $2.52 per share, the closing price of Class A common stock on March 31, 2026.
[F3]On March 31, 2025, the Reporting Person was granted 220,243 RSUs pursuant to the Plan. RSUs were scheduled to vest in three (3) equal installments on each of the following dates: (i) March 31, 2026, (ii) March 31, 2027, and (iii) March 31, 2028, provided that the Reporting Person continues to provide services to the Issuer through the applicable vesting date. Each restricted stock unit represents the right to receive, at settlement, one share of Class A common stock.
[F4]On March 31, 2025, the Reporting Person was granted 293,657 RSUs pursuant to the Plan. RSUs were scheduled to vest in two (2) equal installments on each of the following dates: (i) March 31, 2026 and (ii) March 31, 2027, provided that the Reporting Person continues to provide services to the Issuer through the applicable vesting date. Each restricted stock unit represents the right to receive, at settlement, one share of Class A common stock.
[F5]On March 31, 2026, the Reporting Person was granted 182,975 RSUs pursuant to the Plan. RSUs are scheduled to vest in three (3) equal installments on each of the following dates: (i) March 31, 2027, (ii) March 31, 2028, and (iii) March 31, 2029, provided that the Reporting Person continues to provide services to the Issuer through the applicable vesting date. Each restricted stock unit represents the right to receive, at settlement, one share of Class A common stock.
[F6]Granted pursuant to the Issuer's 2022 Omnibus Equity Incentive Plan (the "Plan").
[F7]The Reporting Person was granted an option to purchase shares of the Issuer's Class A common stock (the "Option") at an exercise price of $2.52 per share, which was the volume weighted average price of the Issuer's Class A common stock for the five days immediately preceding March 31, 2026, as quoted on the Nasdaq Stock Market. The Option vests in three (3) equal installments on each of the following dates: (i) March 31, 2027, (ii) March 31, 2028, and (iii) March 31, 2029, provided, that the Reporting Person continues to provide services to the Issuer through the applicable vesting date.
[F8]In the event that the Reporting Person's employment is terminated by reason of the Reporting Person's disability or termination without cause, the Options shall vest with respect to the number of shares of Class A common stock that would have vested upon the next vesting date following such termination, had the Reporting Person remained an employee.
[F9]Notwithstanding the foregoing, upon the occurrence of a termination of employment by reason of the Reporting Person's (i) termination without cause; or (ii) resignation for good reason, in connection with or within the 24 months following the consummation of a Change in Control (as defined in the Plan and the relevant award agreement), any unvested portion of the Option shall accelerate and vest in full.

Signature

/s/ John Coghlin as Attorney-in-Fact|2026-04-02

Documents

1 file

4
wk-form4_1775162251.xmlPrimary
FORM 4