Etzkorn Lillian 4

What Happened

• Lillian Etzkorn, EVP and CFO of LCI Industries (LCII), exercised 2,975 derivative shares (options) on March 1, 2026 at an exercise price of $133.20 per share (exercise cost ≈ $396,270). The filing shows the same 2,975 shares were disposed (reported as derivative dispositions), and 903 shares were surrendered/used to satisfy tax withholding. Separately, the filing reports a disposition of 4,265 shares back to the issuer.
• Etzkorn also received two grants/awards totaling 8,405 stock units (3,342 and 5,063 units) on the same date. Several footnotes clarify these are contingent/restricted stock units or performance stock units (PSUs) with standard vesting and dividend-equivalent adjustments; one prior PSU grant (April 17, 2023) was forfeited based on performance.

Key Details

• Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (timely filing).
• Exercise price and reported amounts: $133.20 per share; 1,351 and 1,624 share exercises (total 2,975) with reported amounts $179,953 and $216,317 respectively (combined ≈ $396,270).
• Dispositions reported: same 1,351 and 1,624 shares disposed at $133.20 (derivative), 903 shares disposed for tax withholding (code F), and a disposition to the issuer of 4,265 shares (code D).
• Grants: 3,342 and 5,063 stock units awarded (total 8,405 units). Footnotes note stock units equal contingent rights to receive shares and include dividend-equivalent stock units from prior dividends.
• Notable footnotes: F1 defines a stock unit; F12 describes PSUs that vest based on performance through 2028; F13 reports forfeiture of the April 17, 2023 PSU grant. Several F# notes indicate dividend-equivalent unit credits.
• Shares owned after transaction: not specified in the provided excerpt.
• Transaction codes: M = exercise/conversion of derivative, F = tax withholding, A = grant/award, D = disposition to issuer.

Context

• This appears to be a typical option exercise with immediate net settlement/surrender of shares to cover exercise considerations and tax withholding (common practice). The simultaneous awards of stock units are part of executive compensation (RSUs/PSUs) intended for longer-term retention. The PSU forfeiture noted relates to an earlier grant and reflects performance results, not a separate open-market sale.