Leuba Sean P 4

What Happened

• Sean P. Leuba, SVP, Corporate Development & General Counsel of Mayville Engineering Company (MEC), converted/exercised derivative awards and received a grant of restricted shares on 2026-03-15. The filing shows exercises/conversions of 7,263 and 4,646 derivative shares (code M) and a grant/award of 13,498 restricted shares (code A). To cover tax obligations, 5,277 shares were surrendered/withheld at $16.67 per share, totaling $87,968 (code F). Several derivative items are reported as both acquired and disposed in the filing (internal settlement/netting).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely).
• Reported amounts: exercised/converted 7,263 and 4,646 shares; awarded 13,498 shares; 5,277 shares withheld for taxes at $16.67/share = $87,968.
• Transaction codes: M = exercise/conversion of derivative; A = grant/award; F = payment of exercise price or tax liability (share withholding).
• Shares owned after transaction: not stated in the provided filing summary.
• Footnotes indicate multiple vesting schedules for restricted stock units (RSUs): vesting in thirds across March 15 of consecutive years (see F1–F3) and certain options vest 50% on Feb 28 of 2024 and 2025 (F4).

Context

• This appears to be routine award vesting/conversion and tax withholding, not an open-market sale. The 5,277-share disposal at $16.67 is a withholding to cover tax obligations, a common practice that does not necessarily signal a change in insider sentiment.
• For retail investors: purchases or net buys are generally more informative as a bullish signal; here most activity is exercise/vesting and internal withholding, which are standard compensation events.