Middleby (MIDD) Chief Accounting Officer Brittany Cerwin Receives 877 Shares

What Happened
Brittany C. Cerwin, Middleby’s Chief Accounting Officer, was issued 877 shares on July 20, 2026 through a conversion of derivative securities (transaction code C). No purchase price was reported — the shares were issued as part of a conversion/adjustment of RSUs rather than an open‑market trade.

Key Details

• Transaction date: 2026-07-20 (Form 4 filed 2026-08-28). Filing was submitted 39 days after the transaction (Form 4 is typically due within two business days).
• Transaction type/code: Conversion of derivative securities (Code C). Price: N/A (shares issued, not bought).
• Net shares issued: 877 shares (resulting from an adjustment described below).
• Shares owned after transaction: Not specified in the filing.
• Footnote (from filing): The 877 shares represent the net increase when 2,924 RSUs were adjusted to 3,801 RSUs pursuant to the Employee Matters Agreement related to Middleby’s spin-off of Midera Food Processing, Inc., completed July 6, 2026.

Context
This was an issuance/adjustment of RSUs due to a corporate action (the spin-off), not an insider purchase or sale. Such conversions are routine following reorganizations and reflect award adjustments rather than a direct signal of insider buying or selling. The late Form 4 filing is a disclosure timing issue investors may note; it does not change the nature of the underlying conversion.