LAUDERBACK BRENDA J 4

What Happened

• On May 1, 2026, Brenda J. Lauderback (director) had 11,027 restricted stock units (RSUs) convert into common shares (reported as an exercise/conversion). The same 11,027 shares were reported disposed at $0 — consistent with shares being withheld to cover taxes rather than a market sale.
• Also on May 1, 2026 she was credited with 361.84 shares as an award of dividend equivalents valued at $17.33 each, totaling $6,271, under the Company’s Outside Directors' Deferred Compensation Plan.

Key Details

• Transaction date: 2026-05-01; filing date: 2026-05-05 (timely within the SEC’s 2-business-day window for Form 4s).
• Exercise/conversion: 11,027 derivative units converted 1-for-1 into common shares (Footnote F1 & F3: these were RSUs granted 5/1/2025 that vested after one year). Disposition of the 11,027 shares reported at $0, which typically indicates tax withholding by the company rather than an open-market sale.
• Award: 361.84 shares awarded at $17.33 per share (total $6,271) as dividend equivalents on amounts previously deferred (Footnote F2). Shares are issuable on a one-for-one basis and may be delivered after termination of service or upon a change in control.
• Shares owned following the transactions: not specified in the provided filing summary.

Context

• This filing reflects routine compensation events (RSU vesting and dividend-equivalent credit), not an open-market purchase or discretionary sale. The conversion + $0 disposition pattern is commonly a cashless-like withholding to satisfy tax obligations when equity awards vest.
• Such transactions are normal for directors receiving equity compensation and do not by themselves indicate a change in insider sentiment.