BETR CTO Orn Jonsson Converts RSUs, Withholds Shares for Taxes

What Happened
Orn Jonsson Sigurgeir, Chief Technology Officer of Better Home & Finance Holding Co (BETR), had restricted stock units (RSUs) vest and convert into common shares on 2026-05-01 and 2026-08-01. On 2026-05-01, 3,907 RSUs converted into 3,907 shares (acquired at $0.00), and 1,409 of those shares were withheld/disposed to cover taxes at $44.38 each for proceeds of $62,531. On 2026-08-01, 3,906 RSUs converted into 3,906 shares (acquired at $0.00), and 1,995 of those shares were withheld/disposed at $23.50 each for proceeds of $46,883. Total withholding proceeds across the two events = $109,414. These were RSU conversions (no cash exercise) with shares surrendered to satisfy tax withholding obligations — routine rather than an open-market sale for trading.

Key Details

• Transaction dates and amounts:
  • 2026-05-01: 3,907 RSUs converted → 3,907 shares; 1,409 shares withheld/sold @ $44.38 = $62,531.
  • 2026-08-01: 3,906 RSUs converted → 3,906 shares; 1,995 shares withheld/sold @ $23.50 = $46,883.
• Net shares delivered to insider after withholding: ~2,498 shares on 2026-05-01 and ~1,911 shares on 2026-08-01 (total net ~4,409 shares received).
• Shares owned after the transactions: not disclosed in the Form 4 filing.
• Footnotes: F1 — each RSU equals the right to one Class A share; F2 — RSUs were granted 2026-02-11 and vest quarterly over four years in 16 nearly equal installments.
• Tax/transaction codes: M = conversion/exercise of derivative (RSU conversion); F = shares withheld to pay exercise price or tax liability (cashless withholding).
• Filing date: Form 4 filed 2026-08-18. The May 1 transaction appears to have been reported late (Form 4s are normally due within two business days of the transaction).

Context
These transactions reflect routine RSU vesting and automatic tax withholding (a common “sell to cover” mechanism). Because the disposals were for tax withholding, they are not the same as voluntary open-market sales and shouldn’t be read as a clear signal of the insider’s market view. The RSU grant vests quarterly over four years, explaining the similar-sized conversions in May and August.