MATERION (MTRN) CFO Shelly Chadwick Exercises SARs, Sells Shares

What Happened

Shelly Marie Chadwick, Vice President, Finance & Chief Financial Officer of MATERION Corp (MTRN), exercised stock appreciation rights (SARs) on August 7, 2026, converting a total of 4,972 shares into common stock. The filing shows two SAR exercises: 2,800 shares (reported at $135.58, $379,624) and 2,172 shares (reported at $87.36, $189,746). Of the resulting shares, 3,267 were used to satisfy tax withholding/obligations (valued at $293.40 per share, $958,538) and 1,705 shares were sold in the open market at $293.00 per share for proceeds of $499,565. The net effect is a cashless exercise: exercises converted to shares, some withheld for taxes, and the remainder sold.

Key Details

• Transaction date: August 7, 2026; Form 4 filed August 11, 2026 (timely filing).
• Exercise details: 2,800 shares @ $135.58 (acquired, $379,624); 2,172 shares @ $87.36 (acquired, $189,746).
• Withholding/tax payment: 3,267 shares @ $293.40 (disposed, $958,538).
• Open-market sale: 1,705 shares @ $293.00 (disposed, $499,565).
• Derivative conversion lines: two additional entries show the SAR conversions at $0 in the disposition column (standard reporting for SAR-to-share conversion).
• Shares owned after the transactions: not specified in the provided Form 4 summary.
• Footnotes: F1 and F2 note the SARs vest in three substantially equal annual installments beginning March 1, 2025 (F1) and March 1, 2026 (F2).

Context

This was an exercise of stock appreciation rights followed by a cashless settlement—shares were issued on exercise, then shares were withheld for taxes and some were sold in the open market. Such transactions are common for executives when awards vest and do not by themselves signal a change in sentiment; they primarily reflect routine compensation tax/settlement mechanics.