Johnson Jay LeCoryelle 4

What Happened

• Director Jay LeCoryelle had restricted stock units (RSUs) vest and settle on May 1, 2026. Three RSU settlements converted to 248, 302 and 331 shares respectively (total 881 shares). Of those, 325.968 shares were withheld to cover tax liability (reported as a disposition), valued at $221.20 per share for a cash withholding of $72,104. After withholding, LeCoryelle received roughly 555.032 net shares.
• This was not an open-market sale or purchase of stock; it was the scheduled vesting/settlement of RSUs with shares withheld to satisfy tax obligations (common “sell-to-cover” practice).

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filed within the normal two-business-day window).
• Reported actions/codes: M = exercise/conversion of derivative (RSU settlement into shares); F = shares withheld to satisfy tax liability.
• Shares settled: 248 (F1), 302 (F2), 331 (F3) = 881 total. Shares withheld for taxes: 325.968 (F4).
• Withholding price/value: $221.20 per share; tax withholding proceeds = $72,104. Implied gross value of 881 shares ≈ $194,727.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Vesting notes: these RSUs follow a multi-year vesting schedule (see F7–F9); each RSU equals one share (F6).

Context

• This is a routine issuance resulting from RSU vesting rather than a directional trade by the insider. The withholding of shares to pay taxes is a standard administrative disposition and does not necessarily indicate a change in the insider’s market view.
• For clarity: “M” entries reflect conversion/settlement of RSUs into shares; “F” reflects shares withheld to pay taxes (a form of disposition, not an open-market sale).