KIM SUSAN Y 4

What Happened

• Susan Y. Kim, a reported 10% owner (and director per award terms), converted/exercised 9,893.057 derivative units (RSUs/DEUs) into common stock (transaction coded M) and was granted 2,613 new RSUs (transaction coded A). Both transactions show $0.00 per share (these were equity vesting/conversion events, not open-market purchases or sales). The Form 4 covers activity dated May 13, 2026 and was filed May 15, 2026.

Key Details

• Transaction dates: May 13, 2026 (reported May 15, 2026).
• Converted/exercised: 9,893.057 shares @ $0.00 (derivative conversion/exercise).
• Granted/acquired: 2,613 RSUs @ $0.00.
• Reported value: $0 (these are vesting/conversion and grant events, not cash trades).
• Shares/interest after transaction: the filing treats the Reporting Person as having a pecuniary interest in ~36.0 million shares across trusts and partnerships (see footnotes); the Reporting Person disclaims direct beneficial ownership except to the extent of that pecuniary interest.
• Notable footnotes: small fractional DEUs were settled in cash per prior RSU vesting rules (footnote F4); the 2026 RSUs were granted for service as a director (footnote F5). The filer disclaims beneficial ownership except for pecuniary interest (footnote F2).
• Timeliness: Filed two days after the transaction date; appears timely under Section 16 reporting rules.

Context

• These are equity award/vesting events (exercise/conversion of RSUs and a new RSU grant), which are routine compensation-related transactions rather than open-market buys or sales. For derivatives/RSUs: a conversion/exercise typically results in issuance of shares (or cash settlement for fractional/DEU amounts), not an express buy/sell decision by the insider.
• As a reported 10% owner with substantial indirect holdings through trusts and partnerships, this filing reflects institutional/estate ownership reporting and director compensation rather than small personal trades.