Raiford Brittany 4

What Happened

• Brittany Raiford, VP and Interim CFO & Treasurer of Expand Energy (EXE), received equity awards on 2026-03-15: 3,558 restricted stock units (RSUs) and two grants of 1,779 performance share units (PSUs) each (total 7,116 units). These awards are recorded at $0 acquisition price because they are compensation awards, not open-market purchases.
• To satisfy tax withholding on a partial vesting of previously disclosed RSUs, 170 shares were forfeited to the company (disposed) at a weighted-average price of $107.02, resulting in $18,193 withheld.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 16, 2026.
• Grants: 3,558 RSUs (F1); two PSU grants of 1,779 units each (F4, F5). RSUs convert 1:1 to shares; PSUs can convert to 0–2 shares each depending on performance.
• Forfeiture/tax withholding: 170 shares forfeited (code F) at VWAP $107.02 (F3) = $18,193 (F2 explains forfeiture to satisfy tax obligations).
• Shares owned after the transactions: not disclosed in the filing.
• Filing timeliness: filing date is the day after the reported transactions; no late-filing flag reported.

Context

• Awards (RSUs/PSUs) are common executive compensation and are not the same as an open-market purchase (not necessarily a bullish signal).
• The 170-share disposal was a cashless-like tax withholding mechanism (shares surrendered to the issuer), a routine administrative step when equity vests.
• PSUs are contingent awards—final share delivery depends on future performance metrics, so the reported PSU counts may convert to more or fewer actual shares later (0–2x per unit).