Bassano Keith 4

What Happened

• Keith Bassano, Chief Financial Officer and Treasurer of Southland Holdings, converted 19,009 derivative units into 19,009 shares on June 13, 2026 (reported as code M: exercise/conversion of a derivative). The filing also reports a simultaneous disposition of 19,009 shares at $0.00 (reported as a derivative disposal). No cash proceeds are reported for these transactions.
• The underlying instruments were restricted stock units (RSUs) granted June 13, 2025; one-third (19,009 of 57,029) vested on June 13, 2026 per the filing’s footnote.

Key Details

• Transaction date: 2026-06-13; Filing date: 2026-06-16 (appears timely).
• Acquired: 19,009 shares via conversion (code M). Disposed: 19,009 shares at $0.00 (derivative).
• Reported prices/values: $0.00 on the disposition; no cash value reported for the conversion in the provided excerpt.
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 clarifies each RSU equals one share; F2 describes the 57,029 RSU award on 6/13/2025 and the 3-year vesting schedule (one-third vested 6/13/2026).
• Interpretation note: A disposal at $0.00 for shares converted from RSUs typically reflects shares withheld or surrendered to satisfy tax withholding rather than an open‑market sale.

Context

• This was a conversion/vesting event of RSUs, not a purchase or market sale. Converting vested RSUs into shares and immediately surrendering some or all of those shares to cover taxes is a common administrative action and does not necessarily indicate a bullish or bearish signal by the insider.
• For retail investors: purchases are generally more informative about insider sentiment than routine vesting/withholding events like this one.