Sherwin-Williams (SHW) Justin Binns Exercises Options & Sells Shares

What Happened

• Justin T. Binns, President, Global Architectural of Sherwin‑Williams (SHW), exercised 13,500 stock options on Aug 17, 2026 at an exercise price of $90.04 per share (cost $1,215,540) and sold 13,500 shares the same day in an open‑market transaction for total proceeds of $4,761,450 (weighted average sale price $352.70). The net pre‑tax difference between proceeds and exercise cost was about $3,545,910. The filing also reports a gift of 813 shares on Aug 18, 2026 to a charitable donor‑advised fund.

Key Details

• Transaction dates: exercise and sale on 2026-08-17; gift on 2026-08-18. Filing date: 2026-08-19 (timely).
• Exercise: 13,500 shares acquired at $90.04 each (total $1,215,540).
• Sale: 13,500 shares sold at a weighted average $352.70 (total $4,761,450); sale prices ranged from $352.66 to $353.01 (per footnote).
• Gift: 813 shares donated to a charitable donor‑advised fund (footnote indicates charitable gift).
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes: F1 (weighted average sale price / price range), F2 (gift to donor‑advised fund), F3 (reference to 401(k) statement holdings), F4 (options were granted Oct 18, 2016 and vested in three annual installments).
• No indication this filing was late.

Context

• This was effectively a cashless exercise: options were exercised and the resulting shares were sold the same day, a common way for insiders to realize gains from vested options. Such immediate sales are typically routine and do not necessarily signal a change in the insider’s view of the company.
• The reported gift to a donor‑advised fund is a charitable transaction and should not be read as a market sentiment indicator.