Morais Mark A. 4
4 · Fortrea Holdings Inc. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Fortrea (FTRE) COO Mark Morais Receives RSUs, Sells Shares
What Happened
Mark A. Morais, Chief Operating Officer of Fortrea Holdings (FTRE), had 13,966 restricted stock units (RSUs) settle into common shares on March 9, 2026. To satisfy tax-withholding obligations tied to the vesting, he sold a total of 4,599 shares in open-market transactions on March 10, 2026, for aggregate proceeds of approximately $41,713 (2,299 shares at a weighted avg $8.93 = $20,530; 2,300 shares at a weighted avg $9.21 = $21,183). The RSU settlement itself is recorded as an exercise/conversion-type transaction with $0 cash paid by the reporting person.
Key Details
- Transaction dates: RSU settlement/exercise on 2026-03-09; share sales on 2026-03-10. Form filed 2026-03-11 (timely).
- Sales prices: first block weighted avg $8.93 (trades ranged $8.72–$9.03); second block weighted avg $9.21 (trades ranged $9.04–$9.90).
- Shares sold: 4,599 shares; gross proceeds ≈ $41,713.
- Nature of sales: Sell-to-cover for tax withholding (issuer-mandated), not discretionary trades by the reporting person (footnote F2).
- RSU schedule: these RSUs vested March 7, 2026; a second installment is scheduled to vest March 7, 2027 (footnote F6).
- Aggregate holdings: the filing references aggregate common stock and RSU totals (footnotes F4 and F7); specific post-transaction total not provided here.
- No 10b5-1 plan or late filing noted in this Form 4.
Context
This was a routine RSU vesting and required sell-to-cover for taxes — common practice that does not necessarily signal insider sentiment about the company. Technically the RSUs were converted into shares (derivative exercise/settlement) and a portion of those shares were sold immediately to fund withholding; the remaining vested shares were retained. If you want exact trade-by-trade prices or the reporting person’s total holdings after the transactions, the filer has offered to provide full trade details upon request (per footnotes).
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-09+13,966→ 72,018 total - Sale
Common Stock
[F2][F3][F4]2026-03-10$8.93/sh−2,299$20,530→ 69,719 total - Sale
Common Stock
[F2][F5][F4]2026-03-10$9.21/sh−2,300$21,183→ 67,419 total - Exercise/Conversion
Restricted Stock Unit
[F1][F6][F7]2026-03-09−13,966→ 117,285 total→ Common Stock (13,966 underlying)
- 4,625(indirect: By Spouse)
Common Stock
Footnotes (7)
- [F1]Each Restricted Stock Unit ("RSU") represents the right to receive, at settlement, one share of Fortrea Holdings Inc. ("Fortrea") common stock ("Common Stock"). This transaction represents the settlement of RSUs into Common Stock on their scheduled vesting date.
- [F2]The sales reported on this Form 4 represent shares of Common Stock sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
- [F3]This transaction was executed in multiple trades at prices ranging from $8.72 to $9.03. The price reported in column 4 above reflects the weighted average price of the shares of Common Stock sold. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- [F4]This number reflects the aggregate amount of Common Stock held by the reporting person.
- [F5]This transaction was executed in multiple trades at prices ranging from $9.04 to $9.90. The price reported in column 4 above reflects the weighted average price of the shares of Common Stock sold. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- [F6]The RSUs vested on March 7, 2026. The second installment will vest on March 7, 2027.
- [F7]This number reflects the aggregate number of RSUs held by the reporting person.