MACLIN TODD 4

What Happened
Todd Maclin, a director of Trinity Industries, received a grant of 1,070 phantom stock units on 2026-03-31. The units are reported at an equivalent price of $32.18 per share, for a total reported value of $34,433. This was an award (derivative grant), not an open‑market purchase or sale of company shares.

Key Details

• Transaction date: 2026-03-31; filing date (Form 4): 2026-04-02.
• Transaction type/code: Award/Grant (A) — 1,070 phantom stock units at $32.18 each; total $34,433.
• Shares/units owned after transaction: The filing reports the 1,070 phantom units granted; no separate total common shares owned after the transaction is provided.
• Footnote: The units are "Trinity Phantom Stock Units" under the Deferred Plan for Directors Fees, converted 1-for-1 to common stock units and will be settled in cash after the reporting person's retirement (see footnote F1).
• Timeliness: Filed two days after the grant date; the report does not indicate a late filing.

Context
Phantom stock units are a cash‑settled form of equity compensation that track the value of common shares (here converted 1-for-1). They are not share purchases and do not result in immediate stock ownership or sales — settlement will be in cash upon Maclin’s retirement. The $34k grant reflects routine director compensation rather than an open‑market endorsement of the stock.