Medtronic (MDT) SVP Matthew R. Walter Receives Awards, Withholds Shares

What Happened

• Matthew R. Walter, Senior Vice President & Chief HR Officer of Medtronic, had 1,675 shares withheld to cover taxes upon vesting (payment of tax liability) on 2026-07-31 at $85.39 per share, a withholding value of $143,028.
• On 2026-08-03 he received multiple equity awards/acquisitions: 5,769 shares (no cash paid), 14,421 derivative performance share units (PSUs, target award), and 40,973 derivative awards (no cash paid). Combined, the grants/awards total 61,163 units (recorded at $0 cash value in the filing).

Key Details

• Transaction dates and prices:
  • 2026-07-31: 1,675 shares withheld @ $85.39 each = $143,028 (tax withholding upon RSU vesting).
  • 2026-08-03: 5,769 shares acquired @ $0; 14,421 derivative PSUs acquired @ $0; 40,973 derivative awards acquired @ $0.
• Shares owned after transaction: Not specified in the provided filing extract.
• Notable footnotes from the filing:
  • F1: The 1,675 shares were withheld to pay taxes on vested restricted stock units (RSUs).
  • F2: The 5,769 figure includes 140 shares from dividend reinvestment since the last report.
  • F3: The 5,769 awards are RSUs that vest 100% on the third anniversary of grant.
  • F4–F6: The 14,421 units are performance share units (PSUs); each PSU can convert to one share and the actual payout will depend on 3‑year performance (14,421 = target; up to 34,610 at maximum performance; could be 0 at minimum).
  • F5: PSU performance will be measured and, if satisfied, settled on April 27, 2029.
  • F7: The 40,973 derivative awards are subject to time-based vesting (options/awards that vest 25% per year starting on first anniversary).
• Filing timeliness: Report filed 2026-08-04 for transactions dated Jul 31–Aug 3, 2026 — filing appears timely (no late-filing indication in the provided data).

Context

• The 1,675-share transaction was a routine tax-withholding on vested RSUs (common practice when awards vest) and does not necessarily signal a personal view on company stock.
• The PSUs are contingent on future performance and may pay out between 0 and a higher number of shares depending on results over the performance period; this makes their eventual value uncertain.
• Time-based derivative awards vest over multiple years (25% per year) and are meant as retention-based compensation rather than immediate stock purchases.