De Bosschere Fabrice 4

What Happened
Fabrice De Bosschere, Chief Accounting Officer of Marcus & Millichap, reported the vesting/settlement of restricted stock units (RSUs) on March 10, 2026. A total of 2,087 RSUs converted into common shares. To cover the tax withholding on the settlement, 778 shares were withheld (disposed) at the closing price of $26.43, producing a withholding value of about $20,562. After withholding, De Bosschere received a net 1,309 shares. The total market value of the vested RSUs at $26.43/share is approximately $55,160.

Key Details

• Transaction date: March 10, 2026; Form filed March 12, 2026 (filed within standard reporting window).
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax liability.
• Vested/settled: 2,087 RSUs. Shares withheld for taxes: 778 shares at $26.43 each, total ~$20,562. Net shares issued to insider: 1,309.
• Price used for withholding: closing sale price on March 10, 2026 = $26.43 (per filing footnote).
• Footnotes: multiple RSU grants with staggered vesting schedules — some vest March 10, 2026 (and others in later years per footnotes F3–F7). Footnote F2 confirms shares were withheld to cover withholding tax.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• This was not an open-market purchase or sale for investment purposes; it was the settlement of RSUs (derivative conversion). The shares withheld were used to satisfy tax withholding — a routine, administrative disposition (F code).
• For retail investors, such settlements generally reflect compensation vesting rather than a directional bet by the insider.