Hasan Kazi 4

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.