Oswald Stephen G 4

What Happened
Stephen G. Oswald, Chairman, President & CEO of Ducommun (DCO), had performance-based awards settle and a portion of the resulting shares withheld/sold to satisfy tax obligations. On March 4, 2026 he received 75,503 shares (performance stock units) and 23,649 shares (performance/revenue RSUs) at $0 as compensation; on March 4 and 5 portions of those awards were reduced (disposed) to cover taxes: 40,583 shares at $139.45 ($5,659,299), 12,712 shares at $139.45 ($1,772,688), and 2,409 shares at $130.19 ($313,628). Total shares acquired = 99,152; total shares withheld/sold = 55,704, with proceeds reported of $7,745,615.

Key Details

• Transaction dates: March 4, 2026 (main settlements and two withholdings) and March 5, 2026 (additional withholding).
• Prices and values of disposals: 40,583 @ $139.45 = $5,659,299; 12,712 @ $139.45 = $1,772,688; 2,409 @ $130.19 = $313,628. Awards were received at $0 (compensation).
• Shares acquired (awards/grants): 75,503 and 23,649 (total 99,152). Filing also notes 279 shares from the Employee Stock Purchase Plan included in totals.
• Shares disposed/withheld for taxes: 55,704 (reduction in shares to satisfy issuer tax withholding).
• Footnotes: awards were performance-based (granted May 8, 2023) and vested on satisfaction of performance criteria; reductions represent shares withheld to cover tax withholding on settlement/vesting.
• Shares owned after the transactions: not specified in the filing.
• Filing date: March 6, 2026. Transactions occurred March 4–5, 2026; filing appears timely (filed within the typical Form 4 reporting window).

Context
This was primarily the settlement of performance stock units and restricted units, with the company withholding/selling part of the vested shares to cover tax obligations (a common, routine practice). These events are not open-market buys or discretionary insider sales for cash gain analysis; they reflect compensation vesting and tax withholding rather than a direct trading signal.