Sensing John S. 4

What Happened

• John S. Sensing, President, Global SCS & DTS at Ryder System, exercised 12,110 stock options (reported as Form 4 code M) on Feb 19, 2026, at a strike price of $76.49, costing about $926,294. He also executed multiple open-market sales the same day totaling 30,110 shares and generating roughly $6,635,010 in proceeds.
• The filing also shows a derivative disposition of 12,110 shares at $0 (reported separately), which the form records but does not explain in detail. Overall, this sequence is a common pattern where an insider exercises options and sells shares the same day (often to cover exercise cost/taxes).

Key Details

• Transaction date: 2026-02-19 (Form filed 2026-02-20 — timely).
• Options exercised: 12,110 shares at $76.49 = ~$926,294 cash paid.
• Open-market sales: 30,110 shares sold across multiple trades; total proceeds ≈ $6,635,010.
• Reported sale price ranges (per footnotes): roughly $219.12 to $222.60; weighted averages shown in the filing by grouping.
• Filing shows an additional derivative disposition of 12,110 shares at $0 (no proceeds) — filing provides no further detail.
• Shares owned after the transactions: not specified in the information provided in this summary (not listed in the supplied excerpt).
• Timeliness: filing appears timely (filed next day); no late filing flag in the provided data.

Context

• For retail investors: exercises followed by same-day sales frequently reflect routine option exercises and cashing out of shares rather than a clear bullish signal. The filing documents the mechanics (exercise + sales) but does not state the insider’s motives.
• Derivative entries on Form 4 can reflect exercise, net settlement, or conversion mechanics; here the form shows both an acquisition by exercise and a zero-priced derivative disposition for the same quantity — the filing itself does not explain the exact settlement method.