Walsh Derrick 4
4 · Axos Financial, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Axos Financial (AX) CFO Derrick Walsh Exercises RSUs, Sells Shares
What Happened
Derrick Walsh, Chief Financial Officer of Axos Financial, had 1,360 restricted stock units (RSUs) convert to 1,360 shares on March 20, 2026. The gross value of the shares at the reported price ($82.93) was about $112,785. In connection with the issuance, Axos retained 733 shares for tax withholding (disposition to issuer) valued at roughly $60,788, leaving a net issuance of 627 shares to Walsh. These transactions are routine vesting and tax-withholding events rather than open-market purchases or sales.
Key Details
- Transaction date: 2026-03-20 (reported on Form 4 filed 2026-03-24)
- Converted/issued: 1,360 shares at $82.93 (reported value ≈ $112,785) — transaction code M (exercise/conversion of derivative)
- Tax withholding: 733 shares withheld by issuer at $82.93 (≈ $60,788) — transaction code D (disposition to issuer)
- Net shares received by insider: 627 shares (1,360 issued minus 733 withheld)
- Shares owned after transaction: not specified in the provided filing details
- Footnotes: RSUs were granted under Axos’s 2014 Stock Incentive Plan, vest one‑third each anniversary, and include dividend equivalent rights (F1–F5). Withholding is a net‑settlement for taxes (F2).
- Filing timeliness: filed within typical reporting window (no late filing flag noted)
Context
This was an RSU vesting and net-settlement for tax withholding (a common, routine corporate compensation event). The filing shows the RSU conversion (derivative exercise/conversion) and the issuer’s retention of shares to satisfy tax obligations — not an opportunistic sale or open-market trade. For retail investors, such vesting events are informational about insider compensation but do not necessarily indicate a change in insider sentiment about the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20$82.93/sh+1,360$112,785→ 40,886 total - Disposition to Issuer
Common Stock
[F2]2026-03-20$82.93/sh−733$60,788→ 40,153 total - Exercise/Conversion
Restricted Stock Units
[F3][F4][F5]2026-03-20−1,360→ 178,835 total→ Common Stock (1,360 underlying)
- 2,869(indirect: By 401(k))
Common Stock
Footnotes (5)
- [F1]Represents shares of Common Stock issued on March 20, 2026, following the vesting of Restricted Stock Units ("RSUs") which vest as to one-third of the shares on each anniversary of the date of grant. The RSUs were previously granted to the reporting person under the Axos Financial, Inc. 2014 Amended and Restated 2014 Stock Incentive Plan.
- [F2]Represents shares of Common Stock retained by Axos Financial, Inc. for tax withholding purposes in connection with the net-settlement on the issuance of shares of Common Stock in respect to the vested RSUs.
- [F3]The RSUs were granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plan. The RSUs are accompanied by dividend equivalent rights.
- [F4]Each RSU represents a contingent right to receive one share of Axos Financial, Inc. Common Stock.
- [F5]The RSUs vest as to one-third of the shares on each anniversary date of grant.