LUCIANO JUAN R 4

What Happened
Juan R. Luciano, President & CEO and a director of Archer-Daniels-Midland Co (ADM), had 16,882 shares withheld to satisfy tax withholding obligations on March 20, 2026. The shares were valued at $68.64 each, for a total of approximately $1,158,780. This transaction is a tax-withholding disposition (code F), not an open-market sale or a new purchase.

Key Details

• Transaction date: 2026-03-20; filing date: 2026-03-25 (appears later than the typical 2-business-day Form 4 reporting window).
• Shares withheld/disposed: 16,882 at $68.64 each; total value ≈ $1,158,780.
• Transaction code: F — payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares owned after the transaction: not disclosed in the information provided on this Form 4.
• This was a withholding to cover tax obligations, not a market sale; underlying grant/exercise triggering the withholding is not shown on this filing.

Context
Tax-withholding transactions are routine when executives exercise options or when restricted shares vest; they reduce the insider's reported holdings but are not the same as selling shares on the open market. Such withholdings generally do not signal a change in the insider’s view of the company’s prospects. The late filing (filed Mar 25 for a Mar 20 transaction) is worth noting because timely disclosure helps investors track insider activity.