Yang Hongyong 4

What Happened
Yang Hongyong, Vice President and GM, Fuel Systems Asia Pacific at Phinia Inc. (PHIN), had three tranches of phantom units vest on Feb 27, 2026 and those units were cash‑settled by the issuer. The settlement covered 2,003 units for $145,478, 1,130 units for $82,072, and 1,648 units for $119,694 — a total of 4,781 units and approximately $347,244 in proceeds. These were not open‑market sales; they are cash settlements of phantom (deferred) units.

Key Details

• Transaction date: February 27, 2026; filing date: March 3, 2026 (filed within the Form 4 deadline).
• Per‑share settlement price reported: $72.63.
• Breakdown: 2,003 units → $145,478; 1,130 units → $82,072; 1,648 units → $119,694; total ≈ $347,244.
• Shares/units after transaction: the filing does not list a total post‑transaction common share balance in the summary provided; footnote F2 indicates holdings include 1,197 restricted stock units.
• Notable footnotes:
  • F1: Each phantom unit equals one share economically and is settled in cash at the issuer’s closing price on vesting.
  • F3: The reporting person’s remaining phantom units vested on Feb 27, 2026 (these were the units settled).
  • F4/F5: Additional phantom units remain outstanding and will vest on Feb 28, 2027 and in two equal annual installments beginning Feb 28, 2027.
• Transaction type codes: M = conversion/exercise of a derivative (phantom units), D = disposition to the issuer (cash settlement).

Context
These transactions reflect the cash settlement of company phantom units (i.e., cash‑settled awards tied to the stock price) rather than an open‑market sale of owned shares. Cash settlements like this are typically administrative/tax/compensation events and do not necessarily indicate a change in the insider’s view of the company.