Fleming Graham 4

What Happened

• Fleming Graham, CEO of Finance of America Companies, was granted 87,209 restricted stock units (RSUs) on April 1, 2026. On the same date he converted/settled previously awarded RSUs into shares (three conversions of 40,322; 66,667; and 32,958 shares — total 139,947).
• To cover tax withholding related to the settlements, 52,332 shares were withheld at $16.60 per share, producing proceeds/withholding of $868,712. The RSU settlements and grant show $0 exercise price (typical for RSUs).

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (appears timely).
• Prices/values: RSU grants and conversions recorded at $0 per share; tax withholding executed at $16.60 per share (52,332 shares withheld = $868,712).
• Shares acquired via conversion: 40,322; 66,667; 32,958 (total 139,947). Shares withheld for taxes (disposed): 11,633; 26,246; 14,453 (total 52,332).
• New award: 87,209 RSUs granted on April 1, 2026.
• Shares owned after the transactions: not specified in the provided excerpt — check the full Form 4 for post-transaction ownership totals.
• Footnotes: RSUs represent a contingent right to one share each and may be settled in stock or cash at the company’s discretion. Some previously granted RSUs vest on future anniversaries (per footnotes F3–F5); the new RSUs vest in one‑third increments on each of the first three anniversaries of April 1, 2026, subject to continued employment.
• Transaction codes: M = derivative conversion/exercise (RSU settlement), F = shares withheld for tax liability, A = grant/award.

Context

• These were RSU settlements and a new RSU grant rather than open‑market purchases or discretionary sales. Withholding of shares to cover taxes is a routine administrative step (a cashless/net settlement) and is recorded as disposals but does not necessarily indicate selling for investment reasons.
• For retail investors: awards and withholding are compensation events. Purchases by insiders tend to be more indicative of personal bullishness; awards and tax withholdings are common and often driven by vesting schedules and tax obligations rather than market views.