Wood Anthony J. 4

What Happened
Anthony J. Wood (10% owner) converted 50,000 Class B shares into Class A common stock and sold 50,000 Class A shares in multiple open‑market transactions on March 10, 2026. The five blocks sold totaled $4,983,913 (weighted average ≈ $99.68 per share), with individual weighted prices of $98.21, $99.00, $100.15, $100.86 and $101.74. The sales were conducted pursuant to a pre‑arranged 10b5‑1 plan; the conversion itself generated no cash proceeds.

Key Details

• Transaction date: March 10, 2026; filing date: March 12, 2026 (timely under Section 16 rules).
• Shares sold: 50,000 total (broken out as 7,073; 16,423; 14,666; 11,138; 700). Total proceeds reported: $4,983,913.
• Price ranges (per footnotes): 97.54–98.51; 98.54–99.53; 99.54–100.54; 100.54–101.51; 101.57–102.01 (weighted averages shown in filing).
• Conversion: 50,000 Class B → Class A reported (no cash); Class B shares are convertible to Class A per the company charter.
• Plan/notes: Sales executed under Mr. Wood’s 10b5‑1 plan (footnote).
• Shares owned after transaction: not specified in the supplied excerpt of the filing.

Context
Conversion of Class B to Class A is a reclassification of share class (not a purchase). The sales were made under a 10b5‑1 trading plan, which typically schedules trades in advance and is considered routine rather than an immediate expression of sentiment. As a 10% owner/founder, Mr. Wood’s trades are material and reportable; the filing provides ranges and weighted averages and offers to disclose per‑price breakdowns on request.