Breeden Richard C 4

What Happened
Richard C. Breeden, a director of STERIS plc, exercised 3,781 fully vested stock options on June 2, 2026, by paying $71.40 per share (total cost $269,963). On the same day he sold 1,481 of the acquired shares in an open-market transaction at a weighted average price of $209.51 per share for proceeds of $310,284. The Form 4 also shows the derivative (the option) was converted/disposed as part of the exercise.

Key Details

• Transaction date: 2026-06-02; Form 4 filed 2026-06-04 (timely).
• Option exercise: 3,781 shares exercised at $71.40 each; total cash outlay $269,963. (Code M = exercise/conversion of derivative.)
• Sale: 1,481 shares sold at a weighted average price of $209.51 ($209.50–$209.53 range) for $310,284. (Code S = sale.)
• Net change: +2,300 shares retained on a net basis (3,781 acquired − 1,481 sold).
• Footnotes: F1 clarifies the sale price was a weighted average across multiple trades; F4 notes the option was received in connection with STERIS’s 2019 redomiciliation and was fully vested; F2–F3 explain Breeden’s indirect beneficial ownership through related investment entities and disclaimers over certain shares.
• Filing timeliness: Not marked late.

Context This was an option exercise followed by an immediate partial open‑market sale. For retail investors, exercises followed by partial sales are common ways insiders cover exercise costs or taxes; the filing shows Breeden retained a net increase of 2,300 shares. The filing includes standard beneficial‑ownership footnotes indicating some shares are held through affiliated investment entities, which can affect how ownership is reported but does not change the basic economic result shown here.