Montarce Lucas 4

What Happened Montarce Lucas, EVP & Chief Financial Officer of Eli Lilly (LLY), had 368 restricted stock units (RSUs) convert into 368 shares on 2026-02-16. The conversion (reported as a derivative exercise/conversion) was at $0.00 per share (typical for RSU vesting). To cover tax withholding, 159.733 of those shares were surrendered/sold (code F) at $1,040.00 per share, generating $166,122 in cash. Net shares retained from the vesting were 208.267 shares (368 − 159.733), with a market value at the reported price of about $216,598.

Key Details

• Transaction date: 2026-02-16; filing date: 2026-02-18 (timely filing).
• Conversion: 368 RSUs → 368 shares (code M) at $0.00 reported exercise price.
• Tax withholding/disposition: 159.733 shares disposed (code F) at $1,040.00, total reported proceeds $166,122.
• Net shares retained from this vesting: 208.267 shares (noted from math of the report).
• Footnote: F1 — each restricted stock unit represents a contingent right to receive one share of Eli Lilly common stock.
• Shares owned following the transaction: not specified in the excerpt of the filing.

Context

• This is a routine RSU vesting event rather than an open-market buy or a discretionary sale. The surrender/sale of shares to cover taxes (a “sell-to-cover” or withholding) is common and does not by itself indicate a change in insider sentiment.
• Transaction codes: M = exercise/conversion of derivative (here, RSU vesting); F = payment of exercise price or tax liability (share withholding/sale to satisfy taxes).
• No 10b5-1 plan or other trading plan was disclosed in this filing excerpt.