Turco Daniel F 4

What Happened
Daniel F. Turco, EVP — Marketing & Commercial at Expand Energy (EXE), reported transactions on March 15, 2026. He forfeited/sold 775 shares at $107.02 each (totaling $82,941) to satisfy tax withholding related to a partially vested restricted stock unit award. At the same time he was granted 5,693 restricted stock units (RSUs) and two sets of 6,641 performance share units (total 13,282 PSU units) as awards (no cash paid).

Key Details

• Transaction date: 2026-03-15; filing date: 2026-03-16 (filed the next day; appears timely).
• Sale/forfeiture: 775 shares disposed at $107.02 each = $82,941. The $107.02 price reflects the 30-day VWAP ending March 13, 2026.
• Awards: 5,693 RSUs (restricted stock units) granted; two awards of 6,641 performance share units (PSUs) granted (listed as derivative awards).
• Footnotes of note:
  • RSUs each convert to one share upon vesting (F1). The 775 shares were forfeited to satisfy tax withholding on a partial vesting (F2).
  • The PSUs can convert to 0–2 shares each depending on achievement of absolute and relative total shareholder return performance metrics (F4, F5).
• Shares owned after the transactions: not specified in the provided filing.

Context

• The 775-share disposition was a tax-withholding action tied to vesting (a routine administrative sale/forfeiture), not an open-market sale indicating sentiment.
• The grants are awards (transaction code A) and PSUs are contingent performance awards — they may result in more (or zero) shares depending on future performance targets.
• For retail investors, award grants signal compensation alignment with performance but are not the same as a manager buying shares with cash; the withholding sale is administrative.