Bhatia Prashant 4

What Happened

• Prashant Bhatia, EVP, Strategy & Corporate Development at Cboe, exercised derivative awards on 2026-02-19 to acquire 224 shares at a reported price of $286.17 (transaction value shown as $64,102). Of those shares, 129 were withheld to cover tax liabilities (reported value $36,916), leaving a net of 95 shares delivered to him. The filing also reports a grant of 2,621 restricted stock units (RSUs), which are contingent rights to receive one share each.

Key Details

• Transaction dates: February 19, 2026 (reported on Form 4 filed Feb 23, 2026).
• Exercise (code M): 224 shares at $286.17 — value reported $64,102.
• Tax withholding (code F): 129 shares withheld at $286.17 — value reported $36,916.
• Derivative conversion: a separate line shows the derivative instrument (224 units) converted/disposed ($0 on the derivative line) consistent with exercising.
• Award (code A): 2,621 RSUs granted (each RSU = right to one share).
• Vesting notes: Footnotes indicate RSUs convert to common stock and vest in three equal annual installments (see footnotes F2/F3 for start dates).
• Shares owned after the transactions: not provided in the excerpt.
• Filing timeliness: Form 4 was filed Feb 23, 2026 for transactions on Feb 19, 2026; no late-filing flag is indicated in the provided data.

Context

• This was an exercise of derivative awards (option/rights conversion) with shares withheld to satisfy tax withholding — a routine settlement method rather than an open-market sale. The separate RSU grant vests over time, so those shares are contingent and not immediately tradable. As always, such exercises and grants are administrative/compensation events and do not by themselves indicate management’s view of the stock.