LeBon Cherylyn Harley 4

What Happened
Director Cherylyn Harley LeBon converted vested restricted share units (derivative awards) into common shares on Feb 13–14, 2026. She converted a total of 623 shares (344 on Feb 13; 279 on Feb 14) at no cash exercise price, and 335 shares were withheld by the issuer to satisfy tax withholding obligations (185 and 150 shares), generating approximately $53,690 in value. In addition, the filing shows awards of 435 and 687 derivative units (RSUs/DSUs) recorded as grants.

Key Details

• Transaction dates: Feb 13, 2026 and Feb 14, 2026.
• Conversions (exercise/derivative → common): 344 shares (2/13) + 279 shares (2/14) — exercise price $0.
• Tax-withholding disposals: 185 shares @ US$160.27 (2/13) = $29,650; 150 shares @ US$160.27 (2/14) = $24,040; total ≈ $53,690. (Price reflects CAN$218.26 → US$160.2683 conversion.)
• Awards: Grant entries for 435 and 687 restricted/ deferred share units (derivative awards). Per footnotes, many RSUs vest 50% immediately and 50% after one year.
• Net shares delivered to the director from these conversions: 623 converted − 335 withheld = 288 net shares received.
• Filing timeliness: No late-filing indication in the provided data.

Context

• These transactions are primarily vesting/conversion of RSUs (derivative awards), not an open-market purchase or a deliberate sale for investment reasons. The withheld-share entries are tax-withholding actions (code F), a routine disposition when awards vest.
• The conversions show $0 exercise price, so this is not a cash purchase — it's the settlement of equity awards into common shares (sometimes called a cashless/tax-withholding settlement).
• For retail investors: award vesting and tax-withholding sales are common and do not necessarily signal the director's view of the stock; they reflect compensation plan mechanics.