Larsen Larry C 4

What Happened Larry C. Larsen, Executive Vice President & COO of Williams Companies (WMB), was granted 13,604 restricted stock units (performance‑based RSUs) on February 18, 2026. The award is reported as a derivative grant (transaction code A) with a $0.00 per‑share acquisition price (no cash exchanged). Footnotes indicate this represents an upward adjustment to a 2023 performance RSU grant due to performance above target.

Key Details

• Transaction date: 2026-02-18; filing date: 2026-02-20 (Form 4 filed within required window).
• Grant: 13,604 performance-based restricted stock units; reported acquisition price $0.00 (award).
• Shares owned after transaction: not specified in the filing.
• Footnote highlights:
  • Vesting is subject to the grant agreement and Compensation & Management Development Committee certification. Performance metrics: return on capital employed and available funds from operations per share (each 50% weight); relative total shareholder return (TSR) is a modifier (± up to 25%). Final payout range: 0%–200% of awarded units.
  • Filing notes this grant reflects an upward adjustment to the 2023 performance-based RSU award because performance exceeded target.

Context Performance-based RSUs are contingent awards that may convert to actual shares only if future performance and certification conditions are met; they are not an immediate cash or stock purchase. An adjustment upward (per the filing) indicates the underlying performance metrics exceeded the original target for the 2023 grant, increasing the number of RSUs awarded. This type of grant is standard compensation and should be interpreted as an incentive/retention mechanism rather than a direct buy or sell signal.