Smith Lisa M 4

What Happened

• Lisa M. Smith, President of Hefty Waste & Storage (a business of Reynolds Consumer Products, REYN), had restricted stock units (RSUs) and converted performance share units (PSUs) transact on Feb 1, 2026. As a result of vested/converted awards she was issued 32,197 shares (from conversions/exercises of derivative awards). The company withheld 9,788 of those shares to satisfy tax withholding obligations, valued at approximately $227,517. In addition, 12,998 and 19,922 PSUs were converted to RSUs (total 32,920 RSUs) on Feb 1, 2026 that will vest on Feb 1, 2028.

Key Details

• Transaction date: February 1, 2026 (Form 4 filed Feb 3, 2026).
• Shares issued on vesting/conversion: 32,197 shares (from exercise/conversion of derivative awards).
• Shares withheld for taxes: 9,788 shares valued at ~$227,517 (breakdown: 1,351 @ $23.71 = $32,032; 5,236 @ $23.17 = $121,318; 1,467 @ $23.17 = $33,990; 1,734 @ $23.17 = $40,177).
• New RSU awards: 12,998 and 19,922 PSUs converted to RSUs (total 32,920) that will vest on February 1, 2028 (per filing footnotes).
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld to satisfy tax withholding; A = grant/award (derivative).
• Shares owned after the transactions are not specified in the provided summary.
• Filing timing: Reported on Feb 3, 2026 for a Feb 1, 2026 event; no late-filing flag indicated in the data provided.

Context

• These transactions reflect vesting/settlement of equity awards (not an open-market sale or purchase). The withheld shares are a common tax-withholding mechanism (company retains shares rather than selling on the open market) and should not be interpreted as a market-sale signal.
• The filing shows PSUs were previously awarded (Feb 1, 2025) and, based on 2025 performance, were converted to RSUs on Feb 1, 2026 and will vest in future service-based tranches (see footnotes).