Tornos Ivan 4

What Happened

• Ivan Tornos, Chairman, President and CEO of Zimmer Biomet (ZBH), had restricted stock units (RSUs) convert into 34,704 shares on March 6, 2026. The company withheld 19,195 of those shares to satisfy tax withholding obligations at an implied value of $92.54 per share, totaling about $1,776,305. The net shares delivered to Tornos after withholding were 15,509.

Key Details

• Transaction date: 2026-03-06; Form 4 filed 2026-03-10 (timely).
• Mechanics and codes: M = exercise/conversion of derivative (RSU conversion); F = shares withheld to pay tax withholding. Footnote F1 confirms withheld shares were used to satisfy tax obligations; F2 notes each RSU equals one share.
• Withholding detail: 13,516 shares withheld (first tranche), 2,671 (second), 3,008 (third) at $92.54 each; total withheld value ≈ $1,776,305.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing timeliness: filed within required period (transaction on 3/6; filed 3/10).

Context

• This was a net-share settlement of vested RSUs (not an open-market sale). Withholding shares to satisfy taxes is a common administrative step and does not necessarily indicate a CEO view on the company’s stock direction. For retail investors, conversions/withholdings are routine compensation events rather than deliberate buy/sell signals.