Tata Rajiv A. 4

What Happened
Rajiv A. Tata, Vice President, General Counsel & Corporate Secretary of Ducommun (DCO), exercised several option/derivative awards and received stock awards on March 4–5, 2026. He acquired option/derivative shares (5,840; 2,500; 1,833) with exercise prices shown ($42.25, $40.44, $32.90) and also received settlements of performance/restricted stock units. To satisfy tax withholding and related obligations, a total of multiple share-withholdings/disposals occurred (not open-market sales) that amounted to roughly $1.6 million. The cash required to exercise the options was about $408,000 (sum of stated exercise payments).

Key Details

• Transaction dates: March 4–5, 2026; Form 4 filed March 6, 2026 (appears timely).
• Option/derivative exercises (code M): 5,840 shares @ $42.25 (acquired, $246,740); 2,500 @ $40.44 (acquired, $101,100); 1,833 @ $32.90 (acquired, $60,306). Additional derivative-related entries reflect settlement/recording of awards.
• Awards/settlement (code A): 7,622 shares (PSU settlement) and 1,489 shares (grant for services) reported on March 4 (acquired at $0 per share as awards).
• Withholdings/tax payments (code F; labeled as disposals): reductions to satisfy tax obligations on March 4–5 totaling roughly $1.60M (e.g., 4,097 shares @ $139.45 = $571,327; 3,958 @ $139.45 = $551,943; plus smaller withholdings).
• Not an open-market purchase or sale: many "Disposed" entries are issuer share-withholdings to cover taxes (footnotes F4, F5), not indicative of a market-sale decision.
• Footnotes of note: F1 = PSU settlement (May 8, 2023 award achieved performance metrics); F3 = prior ESPP purchases; F4/F5 = share reductions for tax withholding; F6–F9 = option grant/vesting details under the Stock Incentive Plan.
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• These filings primarily show option exercises and award settlements followed by share withholding to meet tax obligations — a common, routine insider event.
• Transaction codes: M = exercised/converted derivative (options), A = award/grant, F = payment of exercise price or tax liability (withholding).
• Because withheld shares were used to satisfy taxes rather than sold on the open market, these entries are not a clear bullish or bearish signal by themselves.