Watson Michael James 4
4 · Axos Financial, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Axos Financial (AX) EVP Michael Watson Receives RSUs, Withholds Shares
What Happened
Michael James Watson, EVP and Head of Axos Securities, had 983 restricted stock units (RSUs) convert into 983 shares of Axos Financial common stock on March 20, 2026 (reported as an exercise/conversion, code M). The issued shares were valued at $82.93 each for a total issuance value of $81,520. Of those shares, 491 were retained by Axos Financial for tax withholding (disposition to issuer, code D), valued at $40,719. Net to Watson after withholding: 492 shares issued to him.
Key Details
- Transaction date: March 20, 2026. Filing date: March 24, 2026 (appears to be filed 4 days after the transaction; Form 4s are generally due within 2 business days — this may be late).
- Prices/values reported: 983 shares @ $82.93 = $81,520 (issued); 491 shares withheld @ $82.93 = $40,719.
- Net shares received by the insider: 492 shares (983 issued − 491 withheld).
- Shares owned after transaction: total beneficial ownership not stated in the provided filing.
- Footnotes: F1/F5 — RSUs vested on March 20, 2026 and vest one‑third each anniversary; F2 — 491 shares were withheld by the company for tax withholding (net‑settlement); F3 — RSUs include dividend equivalent rights; F4 — each RSU equals one share.
Context
This was a routine vesting of RSUs with a net‑settlement for taxes, not an open‑market sale or a purchase. Code M indicates conversion/exercise of a derivative (RSU → common shares); the withholding is a common way to cover tax obligations and does not necessarily signal a change in the insider’s view of the stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20$82.93/sh+983$81,520→ 6,736 total - Disposition to Issuer
Common Stock
[F2]2026-03-20$82.93/sh−491$40,719→ 6,245 total - Exercise/Conversion
Restricted Stock Units
[F3][F4][F5]2026-03-20−983→ 10,659 total→ Common Stock (983 underlying)
- 777(indirect: By 401(k))
Common Stock
Footnotes (5)
- [F1]Represents shares of Common Stock issued on March 20, 2026, following the vesting of Restricted Stock Units ("RSUs") which vest as to one-third of the shares on each anniversary of the date of grant. The RSUs were previously granted to the reporting person under the Axos Financial, Inc. 2014 Amended and Restated 2014 Stock Incentive Plan.
- [F2]Represents shares of Common Stock retained by Axos Financial, Inc. for tax withholding purposes in connection with the net-settlement on the issuance of shares of Common Stock in respect to the vested RSUs.
- [F3]The RSUs were granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plan. The RSUs are accompanied by dividend equivalent rights.
- [F4]Each RSU represents a contingent right to receive one share of Axos Financial, Inc. Common Stock.
- [F5]The RSUs vest as to one-third of the shares on each anniversary date of grant.