Tyler Jason J. 4

What Happened Tyler Jason J., President/Wealth Management at Northern Trust Corp (NTRS), exercised 4,599 stock options on 2026-02-13. He paid $58.25 per share on the exercise (total cash outlay listed as $267,892). To cover tax withholding/taxes, 3,057 of the newly issued shares were surrendered at a withholding value of $146.38/share (total ~$447,484), leaving a net 1,542 shares retained. The filing also shows the underlying derivative was converted/terminated as part of the exercise.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-18 (appears to be filed late relative to the typical two-business-day Form 4 deadline).
• Option exercise: 4,599 shares acquired at $58.25 per share (total $267,892).
• Tax/payment withholding: 3,057 shares surrendered at $146.38 per share (total ~$447,484).
• Net shares received: 1,542 shares (4,599 exercised − 3,057 withheld).
• Shares owned after transaction: Not specified in the provided data; filing notes include 28,765 stock units payable 1-for-1 in common stock (see footnote).
• Footnotes: F1 — includes 28,765 stock units payable automatically 1-for-1 in shares; F2 — the option became exercisable in four equal annual installments beginning 2/16/2017.
• Transaction codes: M = option exercise/conversion; F = payment of exercise price or tax liability (shares withheld).

Context This was an option exercise with shares withheld to satisfy tax obligations (a common cashless/net settlement pattern). That withholding is treated as a disposition for tax purposes but does not necessarily signal a company-view change by the insider. The exercise converted the derivative option into common shares; part of those shares were used to cover taxes immediately.