EBERHART PAULETT 4

What Happened

• Director Paulett (Eberhart Paulett) converted/exercised 1,381 stock units under a Stock Unit Award Agreement on 2026-05-06. Of those shares, 511 were surrendered to the issuer at $239.26 per share for total proceeds of $122,262 (a withholding/disposition to the issuer), leaving a net ~870 shares retained by the director.
• This was not an open-market sale or purchase — it reflects conversion/settlement of a stock award with shares withheld to satisfy tax withholding obligations.

Key Details

• Transaction date: 2026-05-06.
• Conversion: 1,381 shares received per Stock Unit Award Agreement (footnote F1).
• Surrender/withholding: 511 shares disposed to issuer at $239.26 each, totaling $122,262.
• Net shares retained from the conversion: approximately 870 shares (1,381 − 511).
• Shares owned after transaction: not stated in the filing.
• Filing timeliness: no late‑filing flag noted in the record.
• Transaction codes: M = exercise/conversion of derivative (stock units); D = disposition to issuer (withholding).

Context

• This transaction is a routine settlement of a stock unit award; the surrender of shares to the issuer is a common method to cover tax withholding and is not the same as an open-market sale.
• Derivative entries on Form 4 often show both the acquisition (conversion/exercise) and the shares withheld (disposition) in separate lines, which is what occurred here.