Lowe Nathan D. 4

What Happened
Nathan D. Lowe, Chief Financial Officer of Reynolds Consumer Products Inc. (REYN), had multiple restricted stock units (RSUs)/performance share units (PSUs) convert to common shares on February 1, 2026. The filing shows conversion/exercise of 21,022 derivative shares and the company withholding 8,895 of those shares to cover tax withholding obligations at an indicated price of $23.17 per share, totaling about $206,097. The Form 4 also reports two awards of RSUs/derivative units totaling 49,346 shares (15,164 and 34,182) granted on the same date; those awards are reported as derivative awards with service/ performance-based vesting schedules.

Key Details

• Transaction date: February 1, 2026; Form 4 filed February 3, 2026 (appears timely).
• Conversions/exercises (code M): 21,022 shares converted to common stock.
• Tax withholding (code F): 8,895 shares withheld and disposed at $23.17 each, cash value ≈ $206,097.
• Grants/awards (code A): 15,164 and 34,182 RSUs granted (total 49,346 RSUs) with future vesting conditions.
• Footnotes: RSUs convert 1-for-1 to common stock (F1); withheld shares satisfy tax obligations on RSU vesting (F2); some PSUs granted in 2025 were earned and converted to RSUs that vest in 2028 (F3/F4); certain RSUs vested on Feb 1, 2026 (F7).
• Shares owned after the transactions: not specified in the provided filing.

Context
This was not an open-market sale or purchase by the insider; it reflects vesting/conversion of company equity awards and share withholding to satisfy tax obligations (a routine, non-dispositive transaction). For options/derivative activity: exercise/conversion of RSUs/PSUs occurred and shares were withheld rather than sold on the open market. Such withholding is a common administrative step and should not be interpreted as a directional buy/sell signal.