McLellan Philip D. 4

What Happened

Philip D. McLellan, Chief Operations Officer of QuidelOrtho Corporation (QDEL), received multiple restricted stock unit (RSU) awards: two large derivative grants of 36,152 and 36,150 RSUs (total 72,302) reported as acquired on Jan 30, 2026, plus smaller tranches (totaling 4,617 shares) that were converted/exercised around Jan 31, 2026. No cash was paid for the awards (grant price $0). To satisfy tax withholding obligations, the company withheld/disposed 2,333 shares on Jan 31, 2026 at $27.17 per share, generating cash proceeds applied to taxes of approximately $44,207.

Key Details

• Transaction types: A = Award/Grant; M = Exercise/conversion of derivative; F = Payment for tax withholding (share disposition).
• Dates: grants reported 2026-01-30; exercises/conversions and withholding occurred 2026-01-31.
• Withheld shares: 2,333 shares withheld at $27.17/share for taxes, total ~$44,207 (dispositions coded F).
• Awarded shares: two large derivative RSU grants of 36,152 and 36,150 shares (total 72,302 RSUs) reported as acquired at $0.00 (derivative); additional smaller tranches totaling 4,617 shares were converted/exercised.
• Vesting: one 36,152 grant has 12,050 shares vesting Jan 30, 2027 and the remaining 24,102 vesting equally Jan 30, 2028 & Jan 30, 2029; the 36,150 grant vests in equal installments on Jan 30, 2027, 2028 and 2029. Other small tranches had prior vesting in 2025–2026 per footnotes.
• Shares owned after the reported transactions: not specified in the filing.
• Filing timeliness: Form 4 was filed Feb 3, 2026 for transactions dated Jan 30–31, 2026 (the filing indicates it was not filed within the usual two-business-day window).

Context

• These were RSU awards converting to common stock; the tax-related dispositions were a share-withholding arrangement (routine), not open-market sales. Derivative entries (M) reflect conversion/exercise of RSUs into shares; F entries reflect shares retained/sold to satisfy tax withholding.
• Such withholding transactions are common when restricted awards vest and do not necessarily indicate insider sentiment about the company’s stock.