Larson Gregory M. 4

What Happened

• Gregory M. Larson, VP – Accounting & Controller at Expand Energy (EXE), received/vested equity awards and converted performance share units on March 15, 2026. He became entitled to a total of 3,325 shares (2,372 restricted stock units + 881 absolute-TSR performance shares + 72 relative-TSR performance shares).
• To satisfy tax withholding obligations, 798 shares were forfeited to the issuer (522 shares and 276 shares) at a weighted-average price of $107.02 (VWAP), generating withholding values of $55,864 and $29,538 respectively (total ≈ $85,402). The awards and conversions were recorded at $0 exercise price (awards/units).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 16, 2026 (timely).
• Prices: Awards/vests recorded at $0 (grant/exercise of RSUs and performance units); tax-withholding forfeitures priced at $107.02 VWAP (30-day VWAP ending March 13, 2026).
• Shares involved: 2,372 RSUs vested; 881 and 72 performance shares converted; 798 shares forfeited to cover taxes.
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes: F1 = each RSU = 1 share; F2–F3 & F7–F8 = performance share units converted based on TSR metrics (881 and 72 shares became payable); F4 & F6 = shares forfeited to issuer to satisfy tax withholding; F5 = VWAP method used to price withholding.
• Transaction codes explained: A = award/grant; M = exercise/conversion of derivative (performance/unit conversion); F = payment of exercise price or tax liability (forfeiture to cover taxes).

Context

• This was not an open-market sale or purchase: it reflects vesting/conversion of company compensation awards and the routine withholding of shares to satisfy tax obligations (a common cashless-withholding mechanism). Such withholding disposals are administrative and do not necessarily indicate a change in insider sentiment.