Tornos Ivan 4

What Happened
Ivan Tornos, Chairman, President and CEO of Zimmer Biomet (ZBH), had 19,090 restricted stock units (RSUs) vest on February 25, 2026. The filing shows a conversion/settlement of 19,090 derivative awards into common shares (reported as code M). To satisfy tax withholding on the vesting, 10,557 shares were withheld by the company (code F) at a reported per‑share value of $99.51, producing a withholding amount of $1,050,527. After withholding, Tornos retained 8,533 shares (19,090 − 10,557), worth roughly $849,120 at $99.51/share.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (timely — within the usual two‑business‑day window).
• Reported entries: M (conversion/exercise of derivative) — 19,090 shares; F (tax withholding) — 10,557 shares withheld at $99.51 each, totaling $1,050,527.
• Net shares retained from this vesting: 8,533 shares (approx. $849,120 at $99.51/share).
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes: F1 confirms shares were withheld to cover tax withholding on RSU vesting; F2 notes this was one‑third of a grant that vests one‑third on 2/25/2026 and the remainder in two equal installments on 2/25/2027 and 2/25/2028.
• Transaction codes: M = conversion/settlement of derivative (here, RSUs); F = tax withholding (share withholding). No 10b5‑1 plan or late filing indicated.

Context
This was a routine RSU vesting and a share‑withholding for taxes (a cashless-like settlement), not an open‑market buy or sale by the insider. Such withholding transactions are standard administrative actions and do not by themselves signal a change in the insider’s view of the company.