Van Naarden Jacob 4

What Happened

• Jacob Van Naarden, EVP, President — Lilly Oncology & Head, Corporate BD, had 4,108 restricted stock units convert into 4,108 shares on 2026-02-01 (reported as an exercise/conversion of a derivative; $0 exercise price).
• To cover tax withholding, 1,909.375 of those shares were surrendered/withheld at $1,037.15 per share, totaling $1,980,308. Net shares delivered to him from this settlement = 4,108 − 1,909.375 = 2,198.625 shares.
• These transactions are settlement/tax-withholding events (common after RSU vesting), not open-market sales.

Key Details

• Transaction date: 2026-02-01; filing date: 2026-02-03 (appears timely).
• Shares acquired via conversion/exercise: 4,108 shares @ $0.00 (code M). Shares disposed/withheld for taxes: 1,909.375 shares @ $1,037.15 = $1,980,308 (code F). A related derivative line shows the 4,108 RSUs were converted/canceled (code M).
• Net shares received from the settlement: ~2,198.625 shares.
• Footnotes: F1 — reporting person disclaims beneficial ownership except to extent of pecuniary interest; F2 — each restricted stock unit (RSU) converts to one share.
• Shares owned after the transaction are not specified in the provided data.

Context

• This appears to be a routine RSU vesting with net-share withholding to satisfy tax obligations (a common, administrative transaction). It is not an open-market sale signaling a change in investment posture.
• Code guide: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (here, tax withholding).