Duthie Joel D 4

What Happened
Joel Duthie, Chief Legal Officer and Secretary of Patrick Industries (PATK), surrendered shares to satisfy tax withholding tied to vested performance awards and was also granted new awards. The filing shows: 2,577 shares disposed at $129.93 each to cover tax liability (proceeds/value shown as $334,830), an other disposition of 6,397 shares (transaction code J, $0.00), and two award acquisitions — 1,231 shares and 4,926 shares (both recorded at $0.00 as grants/awards).

Key Details

• Transaction date: 2026-01-27; filing date: 2026-01-29 (filed within the Form 4 reporting window).
• Dispositions: 2,577 shares at $129.93 (value $334,830) recorded under code F (payment of exercise price or tax liability); 6,397 shares recorded under code J (other acquisition/disposition) at $0.00.
• Acquisitions: 1,231 shares and 4,926 shares recorded under code A (grants/awards) at $0.00. Total newly granted shares shown = 6,157.
• Footnotes from the filing:
  • Adjustment to number of shares entitled upon vesting of a Jan 2023 performance grant (F1).
  • Shares returned to the company to satisfy tax withholding for a Jan 2023 performance grant that vested after three years upon achievement of objectives (F2).
  • 1,231-share grant is an annual management time‑based award (awarded Jan 2026, vests Jan 2029) (F3).
  • 4,926-share award is performance‑based and vests after three years upon achievement of target objectives (F4).
• Shares owned after the transactions are not specified in the excerpt provided.

Context
This filing reflects routine award vesting and related tax withholding (shares surrendered to cover taxes), plus newly granted time‑based and performance‑based awards. The surrender of shares to satisfy withholding is effectively a net settlement and is not an open‑market sale; such transactions are common when equity awards vest. These awards are not the same as an open‑market purchase (which would signal a personal cash investment).