Schmuhl Wolf Ralph-Bruno 4

What Happened

• Director Ralph-Bruno Schmuhl reported multiple derivative exercises/conversions on May 15, 2026 related to vested restricted stock units (RSUs). The Form 4 shows 12,772 American Depositary Shares (ADS) acquired via conversion/exercise (code M) at $0.00 and several dispositions on the same date including 6,642 ADS withheld for taxes (code F) and other conversion/disposition entries totaling additional ADS.
• All transactions are reported at $0.00 because these entries reflect RSU vesting/conversion and tax withholding rather than open-market purchases at cash prices. Footnotes indicate these were RSUs granted in 2024 and 2025 that follow a quarterly vesting schedule.

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (appears timely within SEC two-business-day rule).
• Reported items:
  • 12,772 ADS acquired (exercise/conversion; code M) @ $0.00.
  • 6,642 ADS disposed/withheld for taxes (code F) @ $0.00 (footnote F2).
  • Additional exercise/conversion dispositions (code M): 3,313 ADS, 1,126 ADS, and 8,333 ADS — each reported @ $0.00.
• ADS conversion note: 1 ADS represents 5 Class A shares of trivago (footnote F1).
• RSU background: the filing references multiple RSU grants with staggered/quarterly vesting schedules (footnotes F3, F5, F6). F4 notes RSUs do not expire.
• Shares owned after the transactions are not specified in the provided excerpt of the filing.

Context

• These entries reflect RSU vesting/conversion and tax-withholding mechanics (code F) rather than an open-market buy or sale. For derivative filings, code M indicates exercise or conversion of a derivative instrument (here, conversion of RSUs to ADS). Because reported prices are $0.00, the filing does not indicate cash proceeds from open-market sales.