Newton Latondra 4

What Happened
Newton Latondra, a director of PHINIA Inc. (PHIN), had 3,367 deferred restricted stock units (DRSUs) vest on May 21, 2026. The Form 4 records an exercise/conversion-type transaction (code M) for 3,367 units; no cash was paid or received in connection with this vesting (price reported as N/A / $0.00). These DRSUs are not settled into common shares immediately — they will convert into the same number of shares when Latondra’s board service ends under the company’s Director Deferred Compensation Program and 2023 Stock Incentive Plan.

Key Details

• Transaction date: May 21, 2026; Form 4 filed May 22, 2026 (timely filing).
• Transaction code: M (exercise or conversion of a derivative security). Report shows 3,367 DRSUs vested. Prices reported as N/A for acquisition and $0.00 for disposition (reflecting a non-cash vesting adjustment).
• Shares owned after transaction: the filing does not disclose total common shares beneficially owned; it explicitly states 3,367 vested DRSUs are included and will settle upon termination of board service (Footnotes F1–F2).
• Notable footnotes: F1 explains each DRSU equals one share economically and will settle into shares (including dividend equivalents) upon termination of board service; F2 confirms the 3,367 DRSUs vested and are included in holdings.
• No 10b5-1 plan, tax-withholding sale, or immediate open-market sale is reported.

Context
DRSUs are deferred awards that give the holder the economic value of shares but typically convert to actual shares (or cash) only after a future event (here, termination of board service). This filing reflects a vesting/conversion event, not a purchase or sale in the open market, and therefore should not be read as an immediate bullish or bearish trading signal.