Kirsis Karlis 4

What Happened

• Karlis Kirsis, Chief Legal Officer of GXO Logistics (GXO), had restricted stock units (RSUs) vest and convert to common shares. A total of 13,274 RSUs vested/converted on March 7, 2026 and were settled on March 9, 2026.
• To cover tax withholding related to the vesting, GXO withheld 6,240 shares at $55.76 per share, equal to $347,942. After withholding, Karlis received approximately 7,034 net shares. There were no open-market sales.

Key Details

• Transaction dates: RSU vest/conversion recorded March 7, 2026; settlement and tax withholding occurred March 9, 2026. Form 4 filed March 10, 2026.
• Withheld shares: 6,240 shares withheld to satisfy tax liabilities at $55.76/share = $347,942.
• Gross shares from vesting: 13,274 RSUs converted to shares; net shares issued to insider ≈ 7,034.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = payment of exercise price or tax liability (share withholding).
• Footnotes: Company withheld shares to cover taxes (no open-market sale). RSUs represent a right to receive one share (or cash equivalent) and vest according to multiple scheduled tranches (see footnotes F2–F5).
• Filing timeliness: Form filed the next business day after settlement (no late filing indicated in the report).

Context

• This was not an open-market sale; the company withheld shares to satisfy tax obligations on vested RSUs — a routine administrative transaction, not a discretionary sell-off.
• For retail investors: such vesting/withholding transactions reflect compensation mechanics (awards converting to shares), not an insider expressing a buying or selling preference in the market.