Smith Chad M. 4
4 · Better Home & Finance Holding Co · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Better Home (BETR) COO Chad M. Smith Exercises RSUs, Sells Shares
What Happened
- Chad M. Smith, President & COO of Better Mortgage (Better Home & Finance Holding Co., ticker BETR), converted 4,834 restricted stock units (RSUs) on March 15, 2026 (reported as an exercise/conversion, $0 exercise price). Following vesting, he had shares withheld to pay taxes and completed open‑market sales. In total, 9,667 shares were disposed or withheld (2,266 + 2,460 withheld for taxes; 2,567 + 2,374 sold in the open market) for combined proceeds/value of approximately $303,491. The RSU conversion itself shows no cash paid (typical for RSUs).
Key Details
- Transaction dates and amounts:
- 2026-03-15: Exercise/conversion of 4,834 RSUs (M) — acquired at $0.
- 2026-03-13: 2,266 shares withheld for taxes (F) at $32.90 — $74,551.
- 2026-03-16: Open‑market sale of 2,567 shares (S) — weighted avg $29.80 (range $29.70–$30.04) — $76,503.
- 2026-03-16: 2,460 shares withheld for taxes (F) at $34.45 — $84,747.
- 2026-03-17: Open‑market sale of 2,374 shares (S) at $28.51 (weighted avg; range $28.20–$28.77) — $67,690.
- Total shares disposed/withheld (excluding the RSU line duplication): 9,667 shares; total reported value/proceeds ≈ $303,491.
- Footnotes: tax withholding relates to RSU vesting (vest dates March 1 and March 15, 2026) and sale price lines are weighted averages with price ranges provided (see F1–F4, F5–F6 for RSU terms and vesting schedule).
- Shares owned after transaction: Not specified in the provided excerpt of the filing.
- Filing timeliness: Report filed March 17, 2026 for transactions occurring March 13–17, 2026; no late‑filing flag noted.
Context
- These transactions are largely routine following RSU vesting: RSUs were converted to shares (no exercise cost) and some shares were withheld to cover taxes (F codes), while other shares were sold in the open market (S codes). The filing also shows a derivative conversion entry (M) for the RSUs; where shares are immediately sold or withheld after vesting, that is typically a cashless/settlement routine rather than an independent purchase decision.
Insider Transaction Report
Form 4
Smith Chad M.
Pres & COO, Better Mortgage
Transactions
- Tax Payment
Class A Common Stock
[F1]2026-03-13$32.90/sh−2,266$74,551→ 2,567 total - Sale
Class A Common Stock
[F2]2026-03-16$29.80/sh−2,567$76,503→ 20,949 total(indirect: By Trust) - Exercise/Conversion
Class A Common Stock
2026-03-15+4,834→ 7,401 total - Tax Payment
Class A Common Stock
[F3]2026-03-16$34.45/sh−2,460$84,747→ 4,941 total - Sale
Class A Common Stock
[F4]2026-03-17$28.51/sh−2,374$67,690→ 18,575 total(indirect: By Trust) - Exercise/Conversion
Restricted Stock Units (Class A)
[F5][F6]2026-03-15−4,834→ 0 total→ Class A Common Stock (4,834 underlying)
Footnotes (6)
- [F1]Represents shares of Class A common stock withheld to pay taxes upon vesting of restricted stock units held by the Reporting Person, which vesting occured on March 1, 2026. The number of shares withheld was determined on March 13, 2026, based on the closing price of the Issuer's Class A common stock on February 27, 2026.
- [F2]The price reported in Column 4 is a weighted average price for shares sold in multiple transactions. The sale prices range from $29.70 to $30.04 per share. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F3]Represents shares of Class A common stock withheld to pay taxes upon the vesting of restricted stock units held by the Reporting Person, which vesting occured on March 15, 2026. The number of shares withheld was determined on March 16, 2026, based on the closing price of the Issuer's Class A common stock on March 13, 2026.
- [F4]The price reported in Column 4 is a weighted average price for shares sold in multiple transactions. The sale prices range from $28.20 to $28.77 per share. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F5]Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.
- [F6]The restricted stock units will vest with respect to (i) 3/12ths of such restricted stock units on July 1, 2025, (ii) 8/12ths of such restricted stock units in equal monthly installments beginning on August 1, 2025 through March 1, 2026, and (iii) the remaining 1/12th of such restricted stock units on March 15, 2026.
Signature
/s/ Andrew Holt, Attorney-in-Fact|2026-03-17