Speers Brody 4

What Happened

• Brody Speers, CFO of Teekay Tankers (TNK), had restricted stock units (RSUs) vest on June 2, 2026. The vesting resulted in conversion/settlement of RSU-related shares and dividend equivalent rights (DERs), reported as the acquisition/settlement of a total of 3,125.024 shares (this includes 567.492 DER shares). To satisfy tax withholding on the vesting, 1,370 shares were withheld (priced at $70.59 per share) for a tax withholding amount of $96,708. Most conversions/settlements show $0 per-share because these were non‑market vesting/conversion events, not open-market purchases or sales.

Key Details

• Transaction date: June 2, 2026; Form 4 filed June 3, 2026 (timely filing).
• Shares/derivatives reported: total conversions/settlements reported = 3,125.024 shares (including 567.492 DERs).
• Tax withholding: 1,370 shares withheld to cover tax withholding at $70.59/share = $96,708 (footnote F6; not a market sale).
• Prices: most RSU/DER settlements reported at $0.00 (non‑cash vesting/conversion); the $70.59 price applies to the withheld-share valuation for tax purposes.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: DERs (dividend equivalent rights) accrued on the RSUs and were settled in shares on vesting (see F1, F3, F5). RSUs convert 1-for-1 into Class A common shares (F2, F4). Withholding is a non‑market transaction (F6).

Context

• This was primarily a vesting/settlement event (award conversion and DER settlement), not an open‑market sale or purchase. The withholding of shares to pay taxes is routine for RSU vesting and does not indicate an intent to sell shares on the market.
• For retail investors: vesting increases insider-held shares (net of withholding), but these filings reflect compensation mechanics rather than a directional trade by the insider.