Morris David Richard 4

What Happened

• Director David R. Morris reported vesting/settlement of 3,164 restricted stock units (RSUs) on 2026-03-20. The shares are reported at $20.43 each (total value ≈ $64,641). To cover tax withholding, 1,234 of those shares were surrendered (reported as disposed under code F) at the same per-share value (≈ $25,211). The net result is an increase of 1,930 shares to his holdings.
• Transaction codes: M indicates the conversion/exercise of a derivative (the RSU conversion to shares) and F indicates shares disposed to satisfy tax withholding. There was no open-market sale of the newly acquired shares.

Key Details

• Transaction date: 2026-03-20; Form 4 filed: 2026-03-24 (filed within the required two business days).
• Prices and values reported: 3,164 shares × $20.43 = $64,641 (acquired); 1,234 shares × $20.43 = $25,211 (withheld).
• Net shares added: 3,164 − 1,234 = 1,930 shares.
• Shares owned after the transaction: Not specified in the provided filing details.
• Footnotes: F3 indicates these RSUs vest in three equal installments beginning one year after the 03/20/2024 grant; F4 clarifies RSU grants are settled in common stock. F1/F2 relate to vesting/settlement terms for RSUs in general.
• Filing timeliness: Report appears timely (filed within two business days).

Context

• This was an RSU vesting and settlement, not an open-market purchase or sale. The withholding of shares to satisfy taxes is a routine administrative step and does not necessarily signal a change in insider sentiment.
• For retail investors, vesting of RSUs increases insider ownership (after withholding), which can be informative; however, such transactions are often part of regular compensation and should be weighed with other insider activity and company fundamentals.