Wade Lisa Jean 4

What Happened

• Director Lisa Wade (listed as Wade Lisa Jean) converted/exercised restricted stock units (derivative code M) on March 16, 2026. The filing shows 250 shares were acquired on conversion and 250 shares were simultaneously disposed of at $0.00.
• Footnotes confirm these were Restricted Stock Units (RSUs) granted on December 16, 2025 (1,000 RSUs total), which vest in four equal installments. The March 16 conversion corresponds to the 25% vesting installment (250 RSUs).
• The $0.00 disposal reflects shares withheld/surrendered rather than an open-market sale (commonly done to satisfy tax withholding on vesting).

Key Details

• Transaction date: 2026-03-16; Form 4 filed: 2026-03-18 (timely filing).
• Acquired: 250 shares via conversion of RSUs (derivative exercise/conversion, code M).
• Disposed: 250 shares at $0.00 (reported as derivative disposal — consistent with tax withholding on vested RSUs).
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Relevant footnotes: F1: each RSU converts to one common share; F2: 1,000 RSUs granted 12/16/2025 vest 25% every 3 months.
• No indication of a 10b5-1 plan, open-market sale, or cash proceeds from the disposal in this filing.

Context

• This was a routine vesting/settlement of RSUs, not an open-market purchase or sale; the simultaneous acquisition and $0.00 disposal typically means shares were withheld to cover taxes rather than sold on the market.
• Such RSU vesting events are standard compensation settlements and do not necessarily signal the insider’s view of the company stock.