Frazier Spencer 4

What Happened

• Spencer Frazier, EVP of Sales and Marketing at J.B. Hunt (JBHT), exercised or converted derivative awards on Jan 31, 2026. The filing shows 1,325 shares acquired via M-coded derivative conversions (474 + 431 + 420).
• To cover tax liability, 391 shares were withheld/disposed under code F (140 + 127 + 124) at $202.72 each, totaling $79,263. Net shares delivered to Frazier after withholding were 934 shares (1,325 − 391).
• These are exercise/conversion and tax-withholding transactions (routine compensation-related activity), not an open-market buy or sell for investment purposes.

Key Details

• Transaction date: 2026-01-31; filing date: 2026-02-02 (appears timely under Form 4 rules).
• Prices: derivative/conversion lines reported at $0.00 (M codes); tax-withheld shares disposed at $202.72 per share.
• Shares acquired (gross): 1,325; shares withheld/sold for taxes: 391; net shares received: 934.
• Total value of shares withheld for taxes: $79,263.
• Shares owned after the transaction: not disclosed in the provided filing.
• Codes explained: M = exercise/conversion of a derivative; F = payment of exercise price or tax liability (share withholding).

Context

• The pattern (M acquisitions with F dispositions) indicates a cashless-style settlement where vested or exercised derivative awards were converted to common shares and some shares were surrendered/withheld to cover taxes. This is a common, routine insider transaction related to compensation and does not by itself signal a buy or sell decision for investment purposes.