Williams Paul Anthony 4

What Happened
Williams Paul Anthony, SVP, Products Business at Emergent BioSolutions (EBS), had a disposition to the issuer on Feb 6, 2026: 8,655 shares were disposed at $10.92 per share for $94,513. In the same settlement, 1,022 shares were withheld to cover tax liabilities at the same $10.92 price for $11,160. These transactions relate to the settlement of performance-based equity (see footnotes); the transactions are sales/withholdings rather than open-market purchases.

Key Details

• Transaction date: February 6, 2026. Price: $10.92 per share.
• Disposition (D): 8,655 shares — $94,513. Tax withholding (F): 1,022 shares — $11,160.
• Shares owned after the reported transactions: not disclosed in the filing.
• Footnote F1: These were performance stock units (PSUs) under the company’s Stock Incentive Plan. The Compensation Committee certified 2023–2025 PSUs at a 25% payout, resulting in an actual award of 2,884 shares on Feb 6, 2026 (less than earlier estimates).
• Footnote F2 / code F: 1,022 shares were withheld to pay taxes associated with vesting/settlement of restricted awards.
• Filing: Report filed Feb 10, 2026; based on the Feb 6 transaction date this appears to be timely.

Context
The primary event was settlement of performance-based equity (PSUs) certified at a 25% payout of target. The disposition to the issuer and the shares withheld for taxes are administrative steps commonly used to net-settle awards and cover tax obligations — not an open-market sale. For retail investors, purchases typically carry more interpretive weight; this filing documents routine award settlement and tax withholding rather than a spontaneous insider buy.