BRANNON KELYN 4

What Happened

• Brannon Kelyn, a director of Merlin, Inc. (MRLN), received an award of 37,500 restricted stock units (RSUs) on May 20, 2026. No cash price was involved — these are equity awards, not open-market trades.
• The award breaks down to 20,000 RSUs vesting in four equal installments every six months beginning September 16, 2026, and 17,500 RSUs that vest in full on the earlier of March 16, 2027 or one day before the issuer's 2027 annual meeting. Each RSU represents the contingent right to one share of common stock; the RSUs do not expire.

Key Details

• Transaction date: 2026-05-20; Form 4 filed: 2026-05-22 (appears timely).
• Shares awarded: 37,500 RSUs total (20,000 with gradual vesting; 17,500 cliff vesting).
• Price: N/A — equity grant, not a purchase or sale.
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: RSUs convert to one share each upon vesting; no expiration. No 10b5-1 plan or tax-withholding details were disclosed.

Context

• RSU awards are compensation/retention tools and do not indicate an immediate buy or sell of stock. They only convert to actual shares if and when they vest according to the schedules above.