Durbin Sean 4

What Happened

• Sean Durbin, Chief Operating Officer of Linde plc (LIN), exercised 7,045 stock options on March 10, 2026 (exercise cost reported as $1,219,701, $173.13 per share) and converted those options into ordinary shares.
• To cover the exercise price and tax withholdings, 4,639 shares were withheld (reported value $2,210,669). Separately, he sold 6,520 shares in open-market transactions on the same date for combined proceeds of $3,111,829 (4,114 shares at $477.78, $1,965,587; and 2,406 shares at $476.41, $1,146,242).
• Aggregate reported value across the exercise, withholding and sales is about $6.54 million. These transactions include an option exercise (code M), tax withholding/share withholding (code F), and open-market sales (code S).

Key Details

• Transaction date: March 10, 2026. Form 4 filed March 12, 2026 (timely within the standard two-business-day window).
• Prices and amounts:
  • Exercised 7,045 options at $173.13 (total $1,219,701).
  • Withheld 4,639 shares at ~$476.54 (value $2,210,669) to cover exercise/taxes (footnote F1).
  • Sold 4,114 shares at $477.78 ($1,965,587) and 2,406 shares at $476.41 ($1,146,242).
• Footnotes: F1 indicates ordinary shares were withheld to cover exercise price and tax withholdings; F2 notes conversion to ordinary shares is on a one-for-one basis. (Other vesting footnotes listed in the filing relate to Linde award schedules but are not needed to interpret the March 10 transactions.)
• Shares owned after the transactions: not disclosed in the provided data.

Context

• This is a cashless-style outcome of an option exercise: options were exercised, and some of the resulting shares were withheld and/or sold to cover the exercise price and taxes. That is a common, administrative insider transaction and does not by itself indicate a change in insider sentiment.
• Transaction codes: M = option exercise (acquired), F = shares withheld for taxes/exercise, S = sale (disposed).
• No indication this is a 10% owner transaction; this appears to be routine executive compensation-related activity.