O'SULLIVAN KIERAN M 4

What Happened

• Kieran M. O'Sullivan, a director of LCI Industries (LCII), exercised/converted derivative awards and immediately disposed of 1,761 shares on May 12, 2026. The exercise/conversion price was $112.42 per share, generating proceeds of about $197,972. On the same date he also received 1,335 shares from a grant/award of restricted stock units that vested (reported at $0 acquisition price).

Key Details

• Transaction date: May 12, 2026 (reported May 13, 2026).
• Exercise/Conversion: 1,761 shares at $112.42 per share — proceeds ~$197,972 (exercise code M). Those 1,761 shares were also reported as disposed (sale) the same day.
• Award/Grant: 1,335 restricted stock units acquired at $0 (code A); these vested in full on May 12, 2026 (see footnote F3).
• Footnotes: F1 — each stock unit represents a right to one share; F2 — 74 stock units reflect dividend-equivalent units from prior dividends; F3 — the RSUs vested in full on May 12, 2026; F4 — some RSUs will vest by May 12, 2027 or at next annual meeting.
• Shares owned after the transactions: not disclosed in the provided excerpt.
• Filing timeliness: Report filed the day after the transaction (timely).

Context

• The combined exercise/conversion and immediate sale suggests a cashless exercise or sale following conversion of derivative awards; this is a common way insiders realize value from vested awards and does not necessarily signal a change in their view of the company.
• The 1,335 shares reflect vested restricted stock units (longer-term compensation) rather than an open-market purchase; such awards are compensation and do not imply a purchase-based bullish signal.