OUTFRONT (OUT) EVP Norton Exercises Options, Receives RSUs

What Happened

• Norton James Michael, EVP, CRO, Enterprise of OUTFRONT Media (OUT), exercised/conversed derivative awards and received company shares on Aug 21, 2026. The filing shows 10,593 shares from an exercised/conversion of a derivative security and 426 shares from an award/RSU settlement (total 11,019 shares). The Aug 21 closing price was $29.83, so the gross value of shares delivered was about $328,700. The filing also reports 1,685 shares were withheld to satisfy tax obligations, leaving a net issuance of roughly 9,334 shares (about $278,400). The derivative conversion/settlement entries are not open‑market sales.

Key Details

• Transaction date: Aug 21, 2026; Form 4 filed Aug 24, 2026 (filed within required two business days).
• Codes: M = exercise/conversion of derivative; A = award/RSU settlement; F = tax withholding.
• Shares acquired: 10,593 (derivative conversion) + 426 (RSU award) = 11,019 shares; 1,685 shares withheld for taxes.
• Approximate values using NYSE close $29.83 on Aug 21, 2026: gross ~ $328,700; net delivered ~ $278,400.
• Footnotes: RSUs are settled by delivery of shares (F1); includes dividend equivalents settled into shares (F2); RSUs vest in two equal annual installments beginning Aug 21, 2026 (F4).
• The filing does not reflect an open‑market sale — the “Disposed” derivative entry reflects the conversion/settlement mechanics, not a cash sale.

Context

• This was an exercise/conversion plus RSU settlement with shares withheld for tax — a common administrative action when equity awards vest. Such transactions increase the insider’s holdings (after withholding) but are not necessarily a bullish market signal by themselves.