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Reynolds Consumer Products Inc.·4

Feb 3, 9:11 PM ET

Estes Stephen C. 4

Research Summary

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Reynolds (REYN) Chief Admin Officer Stephen C. Estes Exercises Awards, Sells Shares

What Happened
Stephen C. Estes, Chief Administrative Officer of Reynolds Consumer Products (REYN), had multiple equity events on Feb 1, 2026. He converted 27,276 derivative units into common shares (exercise/conversion, code M), was granted/awarded 30,949 restricted stock units (RSUs) (code A), and had 10,494 shares withheld by the company to cover tax withholding obligations (code F) at $23.17 per share, totaling approximately $243,146. The conversions and awards were recorded at $0 per share (derivative/award accounting entries).

Key Details

  • Transaction date: February 1, 2026; Form 4 filed February 3, 2026.
  • Exercise/conversion (M): 3,020 + 15,346 + 4,207 + 4,703 = 27,276 shares acquired (conversion of derivative units).
  • Awards/grants (A): 12,272 + 18,677 = 30,949 RSUs awarded (recorded at $0).
  • Tax withholding/dispositions (F): 1,317 + 5,391 + 1,806 + 1,980 = 10,494 shares withheld and disposed at $23.17, proceeds ≈ $243,146.
  • Price shown for withheld shares: $23.17; conversions/awards recorded at $0 (derivative/RSU entries).
  • Shares owned after the transactions are not specified in the provided excerpt of the filing.
  • Notable footnotes: PSUs granted on Feb 1, 2025 were earned and converted to RSUs (F3); certain RSUs vested on Feb 1, 2026 (F7); some RSUs have future vesting schedules or no expiration (F4–F9). F2 confirms company withheld shares to satisfy tax withholding.
  • Filing timeliness: filing dated Feb 3, 2026 for Feb 1 transactions — no late filing flag indicated in the provided data.

Context
These entries reflect compensation-related activity (conversion of performance/stock units and the vesting/award of RSUs) and routine share withholding to satisfy tax obligations, not an open-market sale. The withholding (code F) effectively disposed of shares to pay taxes at $23.17/share (~$243k). The PSUs that were earned and converted to RSUs have service-based vesting (per footnotes) and some awards vest in future years (e.g., vesting on Feb 1, 2028 for the PSUs converted to RSUs). For retail investors, these moves indicate executive compensation realization and routine tax withholding rather than a discretionary market sale or open-market purchase.