George Matthew Spencer 4

What Happened George Matthew Spencer, CEO of Merlin, Inc. (MRLN), was granted an award of 531,807 restricted stock units (RSUs) on May 20, 2026. This transaction is an award/grant (Form 4 code A); no exercise price or cash changed hands and the reported acquisition price is N/A. RSUs convert 1:1 into common shares upon vesting and are not currently vested or tradable.

Key Details

• Transaction date: 2026-05-20; Form 4 filed 2026-05-22 (filed within the two-business-day window).
• Total RSUs granted: 531,807 (no dollar value or per-share price reported).
• Vesting breakdown (footnote):
  • 451,807 RSUs vest in three equal annual installments beginning March 16, 2027,
  • 20,000 RSUs vest in four equal installments every six months beginning September 16, 2026,
  • 60,000 RSUs vest in full on March 16, 2027.
• Each RSU = contingent right to one share of common stock; the RSUs do not expire.
• Shares owned after the grant: not specified in the filing.

Context This is a time- and performance-style compensation grant, not an open-market purchase or sale. RSU awards typically indicate compensation alignment rather than an immediate insider market view; the shares will only become actual stock if and when the RSUs vest.