Bates David J. 4
4 · XPO, Inc. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
XPO COO David Bates Exercises RSUs; Sells Shares for Taxes
What Happened
David J. Bates, Chief Operating Officer of XPO, Inc. (XPO), had restricted stock units (RSUs) convert/settle on March 15, 2026. The filing shows an acquisition of 6,889 shares via RSU conversion (reported as exercise/conversion of a derivative). To satisfy tax withholding, 2,994 shares were disposed at $181.71 per share for total proceeds of $544,040. The filing also reports three additional derivative-related dispositions of 3,975, 1,451 and 1,463 shares (reported at $0.00 in the Form 4), which reflect RSU settlement activity.
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely filing).
- Reported transactions:
- Acquired 6,889 shares (exercise/conversion of derivative, code M) — reported $0.00 price in filing.
- Tax withholding sale: disposed 2,994 shares at $181.71 each for $544,040 (code F).
- Additional RSU/derivative dispositions: 3,975; 1,451; 1,463 shares (each reported with $0.00 price).
- Shares owned after the transactions: not specified in the provided summary of the filing.
- Footnotes: RSUs may settle in stock or cash (F1). Some RSUs vested in full on March 15, 2026 (F2); others have 2‑year (F3) or 3‑year (F4) vesting schedules.
Context
This appears to be routine RSU vesting and a sell-to-cover for taxes rather than an open-market investment decision. The $544k disposition was to satisfy tax withholding; the zero-dollar entries reflect the mechanics of RSU settlement reporting (conversion/settlement of derivative awards), not an open-market sale at $0.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-15+6,889→ 70,344 total - Tax Payment
Common Stock
2026-03-15$181.71/sh−2,994$544,040→ 67,350 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-03-15−3,975→ 0 total→ Common Stock (3,975 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F3]2026-03-15−1,451→ 1,451 total→ Common Stock (1,451 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F4]2026-03-15−1,463→ 2,926 total→ Common Stock (1,463 underlying)
Footnotes (4)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive, upon settlement, either (i) one share of Common Stock or (ii) a cash payment equal to the fair market value of one share of Common Stock.
- [F2]These RSUs vested in full on March 15, 2026.
- [F3]These RSUs vest in two equal annual installments on March 15, 2026 and March 15, 2027, generally subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.
- [F4]These RSUs vest in three equal annual installments on March 15, 2026, March 15, 2027 and March 15, 2028, generally subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.