Lipscomb Timothy 4

What Happened Timothy Lipscomb, EVP and Chief Technology Officer of Cboe Global Markets (CBOE), exercised multiple derivative awards on Feb 19, 2026. He converted 1,882 option-type units at an exercise price of $286.17/share (total paid ≈ $538,572). To cover withholding and exercise obligations, 860 shares were surrendered (disposed) with a value of ≈ $246,106. After the net settlement, the filing shows a net increase of 1,022 shares from the exercise. The filing also records a grant/award of 2,053 restricted stock units (RSUs) (no cash payment).

Key Details

• Transaction date: February 19, 2026; Form 4 filed February 23, 2026 (filed on time within the 2-business-day window).
• Exercise price: $286.17 per share; total cash paid for exercised shares ≈ $538,572.
• Shares surrendered for tax/withholding: 860 shares, value ≈ $246,106.
• Net shares acquired from exercise: 1,022 shares (1,882 exercised − 860 surrendered).
• Grant: 2,053 RSUs awarded (recorded at $0.00); each RSU = contingent right to one share per footnote.
• Shares owned after the transactions: not specified in the filing.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price/tax liability (share withholding); A = grant/award.
• Vesting notes: Footnotes indicate RSUs vest in three equal annual installments (various tranches begin vesting 2024–2027).

Context

• The surrender of 860 shares to cover taxes/exercise costs is a common net-share settlement or withholding method (reported with code F). This means Lipscomb did not make an additional cash sale in the open market to cover taxes—shares were used instead.
• The RSU award (A) will vest over future years per the footnotes; such awards are typically time-based and do not by themselves indicate immediate market sentiment.