KIIL HARRY SKIP 4

What Happened Harry Skip Kiil, EVP & President, Cardiovascular at Medtronic, had performance-vesting share units converted into common stock on May 26, 2026. The Form 4 shows 15,195 shares were acquired upon settlement (priced $0.00 in the filing because they were issued on conversion). The same filing also reports a disposition of 14,517 shares (reported as a derivative transaction). The filing does not report any cash value paid or received for these entries.

Key Details

• Transaction date: May 26, 2026 (Form 4 filed May 28, 2026). Filing appears timely (within two business days).
• Acquired: 15,195 shares @ $0.00 (conversion/settlement of performance share units).
• Disposed (derivative): 14,517 shares @ $0.00 on the same date.
• Footnotes of note:
  • F1: Shares issued upon settlement of performance-vesting share units granted July 31, 2023, based on performance certified May 26, 2026.
  • F3: Each performance share unit represents a contingent right to one share of Medtronic common stock.
  • F4: The performance share units vested on April 24, 2026.
  • F2: Includes 270 shares acquired through dividend reinvestment since the last report.
• Shares owned after transaction: not specified in the provided filing.

Context

• These entries are conversions/settlements of performance share units (derivative-to-stock conversion), not open-market purchases or sales. Performance units convert to shares once performance is certified and vesting conditions are met.
• The filing records both acquisition and a near-equal disposition of shares on the same date; companies commonly withhold or transfer shares to satisfy tax or withholding obligations, but this Form 4 does not state the specific reason for the 14,517-share disposition.
• This type of transaction is routine compensation settlement for executives and should be interpreted as issuance/settlement of awards rather than a straightforward bullish or bearish open-market trade.