O'Day Daniel Patrick 4

What Happened

• Daniel Patrick O'Day (Chairman & CEO, Director) executed option-related transactions on 2026-03-10: he exercised options covering 20,026 shares and was granted restricted stock units (RSUs) of 32,815 and 122,755 shares (total RSUs granted = 155,570). To satisfy tax withholding, 9,767 shares were surrendered/disposed at $148.56 per share for proceeds (value) of $1,450,986. The filings show derivative activity associated with the option exercise and RSU grants.

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
• Option exercise: 20,026 shares (code M — exercise/conversion of derivative).
• RSU grants: 32,815 shares (code A) and 122,755 shares at $0.00 (code A) — total 155,570 RSUs granted.
• Tax/withholding disposition: 9,767 shares disposed (code F) at $148.56 = $1,450,986 (used to cover taxes/exercise price).
• Shares owned after the transaction: not specified in the Form 4 provided.
• Footnotes: F1 — each RSU converts to one share on vesting; F2 — RSUs vest over four years (25% after one year, then 6.25% quarterly); F3 — stock options vest over four years with similar schedule.

Context

• The pattern (exercise of options coupled with a share disposition labeled F) is consistent with a cashless exercise or withholding of shares to satisfy tax obligations rather than an open-market sale for cash. RSU grants and option exercises are common executive compensation events and do not by themselves indicate a change in insider sentiment.