Tobler Kim 4

What Happened

Tobler Kim (Chief Financial Officer, Treasurer and Vice President) had restricted share units (RSUs) settle into 36,423 Class A common shares on March 8, 2026. To satisfy tax withholding obligations, the company withheld 18,533 shares at $5.44 per share, totaling $100,820. The net shares issued to the reporting person were 17,890. The filing shows the RSUs converted to common stock (derivative conversion with $0 exercise price) and no open-market sale by the reporting person.

Key Details

• Transaction date: 2026-03-08; Form 4 filed: 2026-03-10 (timely).
• Gross shares settled: 36,423 RSUs converted to Class A common shares.
• Shares withheld for taxes: 18,533 shares at $5.44/sh = $100,820 (no shares sold on market by the insider).
• Net shares received by insider: 17,890.
• Footnotes: RSUs are contingent rights to one Class A share each; award granted March 8, 2024 with vesting on Mar 8, 2025 and Mar 8, 2026 (remaining vest Mar 8, 2027 subject to continued employment). Class A shares are owned by The Tobler Family Trust dated February 6, 2009 per the filing.
• Filing timeliness: Reported within two business days of the vesting date (no late filing flag).

Context

• This was an award/settlement of vested RSUs, not a purchase or an open-market sale. Tax withholding via share retention is routine in RSU settlements and does not necessarily signal a trading decision by the insider.
• The RSU conversion shows a $0 exercise price (common for RSUs); the economic effect was receipt of shares subject to withholding rather than cash proceeds.