Davie Colin M. 4

What Happened
Colin M. Davie, President & GM, Global Supply Chain at Sherwin‑Williams (SHW), exercised options to acquire 2,976 shares at an exercise price of $127.98 (cost $380,868) on 2026-02-02 and sold those 2,976 shares in the open market the same day for total proceeds of $1,069,872 (weighted average sale price $359.50). Net proceeds before taxes and fees are roughly $689,000 (sale proceeds minus exercise cost). This is an option exercise followed by an immediate sale (cashless-like disposition), i.e., a sale rather than a purchase signal.

Key Details

• Transaction date: 2026-02-02; Form 4 filed: 2026-02-04 (timely — within the usual 2-business-day window).
• Exercise: 2,976 shares at $127.98 = $380,868 (report code M).
• Sale: 2,976 shares at weighted avg $359.50 = $1,069,872 (report code S). Sale prices ranged $359.48–$359.74 per footnote.
• Additional derivative line shows 2,976 shares disposed at $0.00 — reflects the conversion/exercise reporting structure for the options.
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes: F3 notes the options were granted Oct 18, 2017 and vested in three substantially equal installments; F1 explains the weighted-average sale price and gives the price range; F2 references 401(k) plan holdings per trustee statement (number not shown here).
• No 10b5‑1 plan, tax‑withholding, or late-filing flag noted in the provided data.

Context
This filing documents an option exercise with an immediate sale of the resulting shares — a common way for insiders to realize gains from vested options. Such sales are often routine and do not, by themselves, indicate management’s view of the company’s prospects.