Avanes Gilbert 4

What Happened
Avanes Gilbert, EVP, Chief Financial Officer and Treasurer of Reading International, reported the exercise/conversion of 8,768 restricted stock units (RSUs) on April 18, 2026. The filing shows the derivative exercise (code M) converting RSUs into underlying Class A non-voting common shares; no cash exercise price is reported. This was a conversion of vested compensation awards, not an open‑market purchase or sale.

Key Details

• Transaction date: April 18, 2026; Form 4 filed April 21, 2026. The filing does not indicate a late report.
• Amount converted: 8,768 RSUs. Report lists acquisition via exercise/conversion and a corresponding derivative disposition record with $0.00 price (reflecting conversion of units rather than a cash sale).
• Shares owned after transaction: not specified in this Form 4.
• Footnotes of note:
  • F1: Each RSU converts to one share upon vesting.
  • F2: These RSUs were part of a 46,763-unit grant made April 18, 2022 with multi-year vesting and performance components.
  • F3: 8,768 RSUs fully vested on April 18, 2026 and the underlying shares will be delivered in accordance with Gilbert’s irrevocable deferral election.
• No sale or open-market trade was reported; this was a vesting/conversion event. No tax‑withholding or share‑for‑tax details were disclosed in this filing.

Context
Restricted stock units are compensation that convert to shares when vested. This filing documents the vesting/conversion of RSUs rather than a purchase or sale; because Gilbert elected to defer delivery, the timing of actual share delivery to him may follow the company’s deferral terms. Such conversions are routine for executive compensation and do not, by themselves, indicate buying or selling sentiment.