Gabriel Marcos Mendes 4

What Happened

• Gabriel Marcos Mendes, Executive Vice President & Chief Financial Officer of McCormick & Co. (MKC), had restricted stock units (RSUs) convert to common shares on March 15, 2026. A total of 869 RSUs vested/converted (240 + 629).
• To satisfy tax withholding, 288 shares were withheld (79 + 209) at $58.48 per share, totaling $16,842. The RSUs had no purchase price ($0 acquisition cost), so Mendes received a net 581 shares (869 vested − 288 withheld). This is receipt of an award (not an open‑market purchase or sale).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (2 days after the transaction) — appears timely.
• Gross shares converted: 869 RSUs; shares withheld for taxes: 288 at $58.48 each = $16,842; net shares delivered to insider: 581.
• Acquisition type and codes: M = exercise/conversion of derivative (RSU conversion), F = payment of tax liability (shares withheld).
• Footnotes: RSUs require no purchase price (F1). Grants and vesting schedules referenced: grants on March 29, 2023 (vested in thirds beginning Mar 15, 2024) and March 27, 2024 (vesting beginning Mar 15, 2025) per filing notes.
• Shares owned after the transaction: not disclosed in the summary data provided here (see the company Form 4 for full holdings).

Context

• This was an RSU vesting and tax‑withholding event (a common form of executive compensation). The withholding of shares to cover taxes is routine and does not necessarily signal buy/sell intent in the market.
• Because the RSUs had no exercise price, this is not a cash purchase. The filing shows conversion of awards and withholding for tax obligations (a cashless withholding mechanism).