Marinaro Michael 4

What Happened

• Michael Marinaro, EVP and President, MedSurg and Americas at Medtronic (MDT), reported conversion/exercise of performance-vesting share units on 2026-05-26. The filing shows 18,994 shares were acquired at $0.00 (conversion of derivatives) and 17,093 shares were disposed at $0.00 in the same transaction. Transaction code is M (exercise/conversion of a derivative).
• The filing does not list a cash value for the trade because the shares were issued on settlement of performance share units rather than bought on the open market.

Key Details

• Transaction date(s): 2026-05-26; Form filed: 2026-05-28 (filed within the normal 2-business-day Form 4 window).
• Shares reported acquired: 18,994; shares disposed: 17,093 (both at $0.00 per share in the filing).
• Footnotes: shares issued upon settlement of performance-vesting share units granted July 31, 2023, based on performance certified May 26, 2026 (F1); the PSUs vested on April 24, 2026 (F4); each PSU represents a contingent right to one share (F3); 781 shares reflect dividend reinvestment since the last report (F2).
• Shares owned after the transaction: not specified in the provided filing details.

Context

• This was a conversion/settlement of performance share units (not an open-market buy or sell). Filings of this type often show some shares surrendered or netted for taxes or withholding; this filing shows 17,093 shares disposed but does not state the reason.
• For retail investors, conversions of vested performance units are routine executive compensation events and do not by themselves indicate a buy/sell sentiment in the open market.