Bushore Michelle 4

What Happened
Michelle Bushore, Executive Vice President, Chief Legal Officer, General Counsel and Secretary of Realty Income (ticker: O), had shares automatically withheld to cover tax withholding related to equity issuances on February 15, 2026. Two withholding transactions were reported: 1,063 shares withheld at $65.66 each for $69,797, and 1,049 shares withheld at $65.66 each for $68,877 — a combined 2,112 shares and roughly $138,674. These were tax-withholding (surrendered) shares, not open-market sales or voluntary dispositions.

Key Details

• Transaction date: February 15, 2026. Report filed: February 18, 2026.
• Prices: $65.66 per share (per filing). Amounts: 1,063 shares ($69,797) and 1,049 shares ($68,877). Total ≈ $138,674.
• Shares owned after the transactions: not disclosed in the provided excerpt.
• Footnotes: F1/F3 indicate these withholdings occurred upon issuance of 1,972 and 1,946 shares, respectively; withholding amounts were determined using required/maximum tax withholding rates. F2 notes the $65.66 price relates to the NYSE closing price (Feb 13, 2026).
• Filing timeliness: filed Feb 18, 2026 (the filing date is shown in the record excerpt).

Context
This is a routine tax-withholding event (shares withheld to satisfy tax obligations on issued equity), often done automatically and not typically a market sentiment signal like an open-market sale or purchase. The transactions reflect a cashless-type settlement to cover taxes rather than a discretionary sale or purchase decision by the insider.