Schuppenhauer Eric 4

What Happened

• Eric Schuppenhauer, Executive Vice President (GBUL Borrow) at SoFi Technologies (SOFI), had 55,731 restricted stock units (RSUs) settle into shares on Feb 17, 2026. The RSUs converted to common stock with no cash exercise price.
• On Feb 18, 2026, 23,083 of those shares were sold to satisfy tax withholding obligations at $19.62 per share, generating proceeds of $452,935. The sale was a tax-withholding transaction, not an open-market discretionary sale.

Key Details

• Transaction dates: RSU settlement on 2026-02-17; tax-withholding share sale on 2026-02-18. Form 4 filed 2026-02-19 (appears within the typical 2-business-day window).
• Shares settled: 55,731 RSUs converted to common shares (exercise/conversion of derivative, code M).
• Shares sold for taxes: 23,083 shares at $19.62 each; proceeds $452,935. These shares were sold solely to cover withholding and "were not issued to the Reporting Person" per the filing.
• Exercise/settlement price: $0.00 — RSUs settled for no consideration (per footnote).
• Shares owned after transaction: not disclosed in the provided excerpt.
• Footnotes: F1 clarifies each RSU vests into one share for no consideration; F2 confirms the sale was to satisfy tax withholding; F3 ties the RSUs to a prior grant (Form 4 filed 9/27/2024).

Context

• This was a routine RSU vesting and tax-withholding sale. The RSUs were settled (no cash exercise), and a portion of the resulting shares were withheld/sold to cover taxes — common practice that does not necessarily indicate a change in insider sentiment.
• Because the sale was to satisfy tax liabilities (not an open-market sale), it should be interpreted differently than discretionary insider selling.