CME Group (CME) Global Head Dennis Michael G. Receives Restricted Stock

What Happened

• Dennis Michael G., Global Head of Fixed Income at CME Group, was granted 2,592 restricted shares on 2026-09-15 valued at $275.09 each (total value $713,033).
• To satisfy tax withholding related to the vesting, he surrendered 274 shares on 2026-09-15 at $275.09 ($75,375) and another 274 shares on 2026-09-16 at $272.46 ($74,654), for a combined surrender of 548 shares (about $150,029).
• This is an equity award (grant/vesting) rather than an open-market purchase; the surrendered shares are routine tax-withholding dispositions, not a market sale intended as investment signaling.

Key Details

• Transaction dates and prices:
  • 2026-09-15: Award of 2,592 restricted shares at $275.09 (value $713,033) — code A (award/grant).
  • 2026-09-15: 274 shares surrendered at $275.09 (value $75,375) — code F (tax withholding).
  • 2026-09-16: 274 shares surrendered at $272.46 (value $74,654) — code F (tax withholding).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes:
  • F1: Grant is restricted stock under the CME Group Omnibus Stock Plan, vesting in four equal annual installments subject to continued service.
  • F2: Shares were surrendered to the issuer to satisfy tax withholding on the vested restricted stock.
• Filing timeliness: Report filed 2026-09-17 for transactions on 9/15 and 9/16 — appears to be timely (Form 4 is typically required within two business days).

Context

• Restricted stock awards vest over time and require continued employment; this grant vests in four equal annual installments, so the full economic benefit is phased over years.
• Surrendering shares to cover taxes is a common, administrative action and should not be interpreted as a discretionary sale reflecting the insider’s view of the company.
• Transaction codes: A = Award/Grant, F = Tax withholding/disposition.