Hammonds Kevin B 4

What Happened
Kevin B. Hammonds, Chief Legal Officer of Fluor Corp (FLR), exercised 2,988 stock options and immediately sold the 2,988 shares on Feb 20, 2026. The options were exercised at $46.07 per share (total cost $137,657) and the shares were sold at a weighted-average price of $52.61 per share (total proceeds $157,209), producing net proceeds of about $19,552. The filing reports the option instrument was also marked as disposed (the option termination) in connection with the exercise.

Key Details

• Transaction date: 2026-02-20 (reported on Form 4 filed 2026-02-23; filing appears timely).
• Exercise (code M): 2,988 shares acquired at $46.07 — $137,657.
• Sale (code S): 2,988 shares sold at weighted-average $52.61 — $157,209. Sale prices ranged $52.31–$53.08 per share (see footnote).
• Net cash result (proceeds minus exercise cost): ≈ $19,552.
• Shares owned after transaction: Not disclosed on this filing.
• Footnotes: F1 notes the sale price is a weighted average and sales occurred at prices between $52.31 and $53.08; F2 notes the options vested in three equal annual installments beginning March 6, 2017.
• Transaction types: M = option exercise; S = open-market sale. The option itself was reported as disposed at $0 in connection with the exercise (typical when the option is converted into stock).

Context
Because the exercised shares were sold immediately, this is effectively a cashless exercise rather than a buy-and-hold purchase — common when insiders exercise vested options for liquidity or to cover tax/exercise costs. This routine insider sale does not, by itself, indicate a change in company outlook; purchases typically carry more direct informational weight for retail investors.