BLITZER MICHAEL 4

What Happened

• Michael Blitzer, a director of Merlin, Inc. (MRLN), was granted 37,500 restricted stock units (RSUs) on May 20, 2026 (reported on Form 4). No cash price or market purchase was involved—the filing shows an award/acquisition (code A). Each RSU represents a contingent right to one share of common stock; the award will convert to shares only as the RSUs vest.

Key Details

• Transaction date: 2026-05-20; filing date (Accession 0001628280-26-037529): 2026-05-22 (filed within the usual 2-business-day window).
• Amount: 37,500 RSUs total. No per-share price (N/A) because this is a grant, not a purchase/sale.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Vesting/footnote (F1): (i) 20,000 RSUs vest in four equal installments every six months beginning Sept 16, 2026 (i.e., 5,000 RSUs per installment); (ii) 17,500 RSUs vest in full on the earlier of March 16, 2027 or one day prior to the issuer’s 2027 annual meeting. The RSUs do not expire.
• No tax-withholding or disposition details noted in the provided footnote.

Context

• RSU grants are compensation-based awards and are not the same as an open-market purchase or sale; they indicate potential future issuance of shares as they vest, rather than an immediate change in insider cash exposure.
• Because this is an award to a director (not a sale), it should be viewed as part of executive/director compensation rather than a direct signal of buying or selling activity.