Wichterich Michael 4

What Happened

• Michael Wichterich, Interim President & CEO and director of Expand Energy (EXE), received equity awards on 2026-02-09 consisting of 16,856 restricted stock units (RSUs) and 16,856 performance share units (PSUs), for a total of 33,712 units. Each award was reported at $0.00 per share (no immediate cash paid or received). The PSU award is reported as a derivative instrument.

Key Details

• Transaction date: 2026-02-09; Form 4 filed 2026-02-11 (timely filing).
• Awards: 16,856 RSUs @ $0.00; 16,856 PSUs (derivative) @ $0.00 — total 33,712 units.
• Shares owned after transaction: not disclosed in this filing.
• Footnote highlights:
  • RSUs: contingent right to one share each; vesting is prorated based on time served during the one-year period after grant, but will be no less than 4,682 RSUs. Vesting occurs on the later of the one-year anniversary or the end of his service as Interim CEO, subject to continued service.
  • PSUs: contingent right to one share each, vesting depends on meeting an absolute total shareholder return (aTSR) threshold and is prorated based on time served (minimum 4,682 PSUs if threshold met). Vesting occurs on the later of the one-year anniversary or the date the aTSR threshold is met, subject to continued service.

Context

• RSUs and PSUs are compensation awards, not open-market purchases or sales; they do not represent immediate cash proceeds or purchases. RSUs convert to shares upon satisfying vesting and service conditions; PSUs only convert if the specified performance (aTSR) threshold is achieved.
• Such awards are commonly used for retention and performance incentives and should not be interpreted on their own as a buy/sell signal.