Neville Patrick Sean 4

What Happened
Neville Patrick Sean (Director) converted and sold Class B shares into Class A and sold a total of 35,000 Class A shares in open-market transactions on February 26, 2026. The sales were 30,000 shares at $90.00 ($2,700,000) and 5,000 shares at $90.00 ($450,000), totaling $3,150,000. The conversions were completed to facilitate these sales under a 10b5-1 trading plan.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (timely within the two-business-day window).
• Sales: 30,000 shares sold at $90.00 ($2,700,000) and 5,000 shares sold at $90.00 ($450,000) — total proceeds $3,150,000.
• Conversions/derivatives: Reporting person converted 30,000 and 5,000 Class B shares into Class A (footnotes F2, F5) to enable the sales; filing shows related derivative exercise/conversion entries.
• Shares owned after transaction: The filer states he beneficially owns zero (0) shares of Class A directly after the transaction (footnote F3).
• Trust holdings/disclaimer: Some Class B and Class A shares are held in irrevocable grantor trusts (footnotes F4, F6); the reporting person disclaims beneficial ownership of those trust-held shares except to the extent of any pecuniary interest.
• Options: The filing notes relevant options are fully vested (F7).
• 10b5-1 plan: Sales were made pursuant to a 10b5-1 trading plan (F2, F5), indicating pre-planned disposition.

Context

• These actions involve converting Class B to Class A shares and selling them immediately — a routine liquidity event under a pre-established trading plan rather than an ad-hoc market trade. Conversions of Class B to Class A are permitted one-for-one and can automatically occur on transfers (F1).
• Because the sale was pursuant to a 10b5-1 plan and the filer reports zero direct Class A ownership post-sale, this looks like a planned divestiture rather than an intra-day trading decision; trust holdings remain and are disclosed with ownership disclaimers.