Brown Gregory Scott 4

What Happened

• Director Gregory Brown received a grant of 13,779 restricted stock units (RSUs) on 2026-05-20 (transaction code A). The reported acquisition price was $0.00, so no cash was paid for the award.
• The filing’s footnote states the total reported includes the 13,779 newly granted RSUs and an additional 37,422 RSUs that remain subject to vesting. Each RSU represents the contingent right to receive one share of Class A common stock and does not expire.

Key Details

• Transaction date: 2026-05-20; Form filed: 2026-05-21 (timely, next-business-day filing).
• Grant size: 13,779 RSUs newly granted @ $0.00; plus 37,422 RSUs referenced in footnote.
• Vesting for the 13,779 RSUs: vest on the earlier of (i) the day before the issuer’s first annual meeting following the grant or (ii) the first anniversary of the grant.
• Vesting for the 37,422 RSUs: one-third vests on Nov 17, 2026; then one-eighth of the remaining RSUs vest on each quarterly anniversary thereafter, fully vesting on Nov 17, 2028.
• Shares owned after the transaction are not specified in the provided excerpt.
• No indication of a 10b5-1 plan, tax-withholding sale, or late filing in the supplied data.

Context

• RSUs are compensation that convert into shares only as they vest; they require no immediate cash outlay and are primarily a retention/compensation tool rather than a direct market sentiment signal.
• Because this is an award (not a purchase or sale), it’s routine director compensation and should be interpreted accordingly—useful for understanding management alignment but not a direct bullish/bearish trade by the insider.