Smith Rodney M 4
4 · AMERICAN TOWER CORP /MA/ · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
American Tower (AMT) CFO Rodney Smith Exercises Options, Sells 34,341
What Happened
Rodney M. Smith, EVP, CFO & Treasurer of American Tower (AMT), exercised 34,341 stock options on Feb 17, 2026 at $94.71 per share (exercise cost $3,252,436) and sold all 34,341 shares the same day in multiple open-market transactions for aggregate proceeds of $6,596,527. The sales were effected under a Rule 10b5-1 trading plan.
Key Details
- Transaction date: February 17, 2026; Form 4 filed Feb 19, 2026 (timely filing).
- Exercise: 34,341 shares exercised at $94.71 per share; total exercise cost $3,252,436. (Grant under 2007 Equity Incentive Plan; exercisable in 25% cumulative annual increments beginning March 10, 2017 — F6.)
- Sales (total = 34,341 shares; proceeds $6,596,527):
- 2,086 shares @ $190.35 = $397,070 (weighted avg across same-day trades; $189.93–$190.88 — F3)
- 9,596 shares @ $191.52 = $1,837,826 (weighted avg; $191.06–$192.00 — F4)
- 22,658 shares @ $192.49 = $4,361,438 (weighted avg; $192.13–$193.00 — F5)
- 1 share @ $193.13 = $193
- Net proceeds before fees/taxes ≈ $3,344,091 (sales proceeds minus exercise cost).
- Sales were made under a Rule 10b5-1 trading plan adopted May 22, 2025 (F2).
- Filing notes it includes 93 and 26 shares acquired under the issuer’s ESPP in May and Nov 2025, respectively (total 119 shares) — F1.
- Shares owned after the reported transactions are not specified in the provided filing extract.
Context
This was effectively a same-day exercise-and-sell (cashless-style) transaction: options were exercised and the resulting shares were sold immediately. Sales under a pre-arranged 10b5-1 plan are routine and generally indicate pre-scheduled liquidity rather than a discretionary market-timing decision. The filing is informational — it reports the mechanics and money amounts but does not state the insider’s motives.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-17$94.71/sh+34,341$3,252,436→ 108,655 total - Sale
Common Stock
[F2][F3]2026-02-17$190.35/sh−2,086$397,070→ 106,569 total - Sale
Common Stock
[F2][F4]2026-02-17$191.52/sh−9,596$1,837,826→ 96,973 total - Sale
Common Stock
[F2][F5]2026-02-17$192.49/sh−22,658$4,361,438→ 74,315 total - Sale
Common Stock
[F2]2026-02-17$193.13/sh−1$193→ 74,314 total - Exercise/Conversion
Option to Purchase Common Stock
[F6]2026-02-17−34,341→ 0 totalExercise: $94.71Exp: 2026-03-10→ Common Stock (34,341 underlying)
Footnotes (6)
- [F1]Includes 93 and 26 shares acquired under the issuer's employee stock purchase plan in May 2025 and in November 2025, respectively.
- [F2]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 22, 2025.
- [F3]Represents the weighted average price of shares sold in multiple same-day transactions at prices ranging from $189.93 to $190.88 per share.
- [F4]Represents the weighted average price of shares sold in multiple same-day transactions at prices ranging from $191.06 to $192.00 per share.
- [F5]Represents the weighted average price of shares sold in multiple same-day transactions at prices ranging from $192.13 to $193.00 per share.
- [F6]This option was granted pursuant to the 2007 Equity Incentive Plan, as amended, and is exercisable in 25% cumulative annual increments beginning March 10, 2017.