Hays James Charles 4

What Happened
Director James Hays reported the conversion/settlement of 1,797 restricted stock units (RSUs) into 1,797 shares on May 5, 2026 (transaction code M). The Form 4 shows an acquisition via exercise/conversion of 1,797 shares and a corresponding disposal of 1,797 shares reported at $0.00. This was not an open‑market purchase or sale but the settlement of an equity award that fully vested.

Key Details

• Transaction date: May 5, 2026; Form 4 filed May 7, 2026 (timely filing).
• Acquired: 1,797 shares via conversion/settlement of RSUs (code M).
• Disposed: 1,797 shares reported at $0.00 (derivative disposal).
• Footnotes: RSUs settle one-for-one into common stock; the 1,797‑RSU award was granted May 7, 2025 and fully vested May 5, 2026 due to board‑approved accelerated vesting when the director’s term ended.
• Shares owned after the reported transactions: not specified in the provided filing excerpt.
• No 10b5-1 plan or sale-for-cash details disclosed in the filing.

Context
This filing reflects RSU vesting and conversion rather than a market buy or sell. The matching disposal at $0.00 is recorded on the Form 4 but the filing does not explain the nature of that $0 disposition (e.g., tax withholding, transfer, or internal settlement). For retail investors, award settlements are common compensation events and do not by themselves signal a director buying or selling stock on the open market.