Clark Ryan Gerard 4

What Happened

• Ryan Gerard, President of Hefty Tableware at Reynolds Consumer Products (REYN), had restricted stock units (RSUs) convert into common shares on 2026-06-01. A total of 21,325 RSUs converted (15,097 + 6,228). No cash was paid for the shares (conversion price reported as $0.00). To satisfy tax withholding obligations, Reynolds withheld 9,070 shares (6,421 + 2,649) at a per-share value of $21.67, totaling about $196,547. The net result was issuance of 12,255 shares to Gerard.

Key Details

• Transaction date: 2026-06-01; Form 4 filed: 2026-06-02 (timely).
• Conversion price reported: $0.00 per share (RSU conversion). Withheld shares valued at $21.67 each.
• Withheld shares and values: 6,421 shares = $139,143; 2,649 shares = $57,404; combined ≈ $196,547.
• Shares issued on conversion: 21,325 total; net to insider after withholding: 12,255 shares.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1–F4 explain withholding was done by the company to cover tax obligations; each RSU equals one share upon vesting; RSUs vest one‑third on each of the first three anniversaries of grant; RSUs have no expiration.
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion); F = shares withheld to satisfy tax liability.

Context

• This was a routine RSU vesting and cashless settlement for taxes, not an open‑market sale or purchase. Withheld shares are used solely to cover tax obligations and do not represent proceeds taken by the insider in an open-market transaction. Such tax-withholding entries are common and generally not interpreted as an expression of confidence or concern about the stock.