SIEGEL MATTHEW 4
Research Summary
AI-generated summary
OUTFRONT (OUT) CFO Matthew Siegel Exercises Awards; Withholds/Sells Shares
What Happened
- Matthew Siegel, EVP & Chief Financial Officer of OUTFRONT Media (OUT), had multiple restricted share units / derivative awards convert or vest on Feb 20, 2026, resulting in the acquisition of 211,671 shares (several awards/exercises reported at $0.00 per share). To satisfy tax withholding obligations, 61,911 of those shares were disposed (withheld/sold) at $26.16 per share, producing proceeds of $1,619,592.
Key Details
- Transaction date: February 20, 2026. Filing date: February 24, 2026 (appears timely).
- Acquisitions: a total of 211,671 shares from exercises/conversions and awards (entries at $0.00 reflect settlement of restricted/performance units into common stock).
- Dispositions: 61,911 shares withheld/sold at $26.16 per share for $1,619,592 (tax withholding / payment of exercise price or tax liability).
- Price note: closing NYSE price on Feb 20, 2026 was $26.16 (footnote).
- Footnotes: RSUs are settled into shares on vesting (F1); some awards included dividend-equivalent shares (F2); performance targets for certain units were certified as achieved (F5); various awards vest in three equal annual installments starting in 2024–2027 (F4–F8).
- Shares owned after the transactions are not provided in the excerpt of the filing.
- Transaction codes: M = exercise/conversion of derivative, A = grant/award, F = payment of exercise price or tax liability.
Context
- These filings reflect awards/RSUs and their settlement into shares, not an opportunistic open-market sale for investment reasons. The 61,911-share disposition is a routine withholding/sale to cover tax obligations (a common cashless settlement approach). The performance-related units had their targets certified (per footnote), triggering settlement.