RICHARDS PAULINE 4

What Happened

• Director Pauline Richards received two awards on 2026-07-24: 463 shares of common stock issued for quarterly retainer fees (463 @ $73.53 = $34,044) and 373 deferred stock units related to quarterly dividends (373 @ $73.53 = $27,427). Combined, 836 shares/units were issued at $73.53 per share for a total value of $61,471. These were awards/compensation (Form 4 code A), not open-market purchases or sales — routine director compensation.

Key Details

• Transaction date: 2026-07-24; reported on Form 4 filed 2026-07-28 (four days after the transaction).
• Price: $73.53 per share for both items.
• Shares/units received: 463 shares (common stock) + 373 deferred stock units = 836 total.
• Total value: $61,471 (463*$73.53 + 373*$73.53).
• Footnotes: F1 = common stock issued for quarterly retainer fees; F2 = represents shares of common stock; F3/F4 = deferred stock units issued for quarterly dividends (each unit converts to one share upon the director’s retirement/termination); F5 = represents restricted stock units (not used here).
• Shares owned after the transaction: not specified in the provided filing.
• Timeliness: Form filed four days after the transaction; Form 4s are normally due within two business days — review the filing for any late-filing designation.

Context

• These awards are compensation-related (retainer + dividend deferral). Deferred stock units are not immediately tradable stock — they convert to shares upon the director’s retirement or termination of board service, so this is typical board compensation rather than a market signal of buying or selling intent.