Casey's (CASY) Director Donald Frieson Exercises and Sells 326 Shares

What Happened

• Donald Frieson, a non-employee director of Casey's General Stores (CASY), exercised/converted 326 derivative units on 2026-09-02 and those 326 shares were simultaneously disposed of the same day. The reported price for the exercise/conversion and disposal is $0.00 (total value reported $0). On the same date he was also granted 220 restricted stock units (RSUs) under the 2025 Stock Incentive Plan; each RSU equals one share after vesting.

Key Details

• Transaction dates: 2026-09-02 (reported on Form 4 filed 2026-09-04).
• Transaction types/codes: M = exercise/conversion of derivative (326 shares acquired and 326 shares disposed); A = grant/award (220 RSUs acquired).
• Prices and values: all reported at $0.00; no cash value shown on the filing.
• Vesting and footnotes: F1 — each RSU converts to one share upon vesting; F2 — the 220 RSU grant vests in full at Casey’s 2027 annual shareholders’ meeting; F3 — the award related to the exercised/converted units vested in full at the 2026 annual meeting.
• Shares owned after the transaction: not disclosed in the provided filing.
• Timeliness: filing was submitted 2026-09-04 for a 2026-09-02 transaction (appears timely).

Context

• The simultaneous exercise/conversion and immediate disposition of the 326 shares is consistent with a cashless settlement or a disposition of shares received upon vesting/exercise; the filing shows the exercises and disposals occurred on the same date.
• The 220 RSUs are a forward-looking award (no shares issued until vesting in 2027) and do not represent currently tradable shares.
• These are director compensation transactions (non-employee director awards), not open-market purchases indicating a direct buy signal.