Reyneke Josias W. 4

What Happened

• Josias W. Reyneke, Chief Information Officer of Miller Industries (MLR), had 3,316 time‑based restricted stock units (RSUs) vest on March 15, 2026. The vested RSUs were converted into shares; 778 of those shares were withheld to satisfy tax withholding obligations (778 x $43.88 = $34,139). After withholding, 2,538 net shares were delivered to the reporting person. On the same date Reyneke was also awarded 6,140 new RSUs (no cash exchanged) that are recorded as a derivative grant.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing).
• Vested/conversion: 3,316 RSUs converted into shares (vested RSUs).
• Tax withholding: 778 shares withheld at $43.88/share = $34,139 paid to cover taxes.
• New award: 6,140 RSUs granted (recorded as acquisition at $0.00).
• RSU mechanics: Each RSU = right to one share (per footnote). The 3,316 vested under a time‑based schedule; the 6,140 grant vests in three equal annual installments commencing March 15, 2027 (per filing footnotes).
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context

• This was not an open‑market buy or sale for investment—these are routine equity compensation events. Withholding shares to cover taxes is a common, administrative disposition and does not necessarily indicate a change in insider sentiment. The 6,140‑share award is a future‑vesting RSU grant (multi‑year schedule), so those shares are subject to continued vesting conditions.