Class A Common Stock

Class A Common Stock

Certain of these securities are represented by Restricted Stock Units ("RSUs").

The sales were executed in multiple trades at prices ranging from $434.38 to $435.36. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $435.42 to $436.41. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $436.46 to $437.45. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $437.46 to $438.45. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $438.46 to $439.45. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $439.46 to $440.45. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $440.47 to $441.46. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $441.47 to $442.465. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $442.48 to $443.47. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $443.48 to $443.79. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $426.34 to $427.33. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $433.50 to $434.49. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $434.50 to $435.49. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $435.50 to $436.49. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $436.50 to $437.47. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $437.50 to $438.47. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $438.50 to $439.23. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $439.51 to $440.34. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $440.63 to $440.90. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

Shares are held by The Chen Family 2012 Irrevocable Trust, for which the Reporting Person and his spouse serve as trustees.

The option is fully vested and exercisable.

The sales were executed in multiple trades at prices ranging from $427.34 to $428.33. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $428.34 to $429.33. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $429.34 to $430.33. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $430.34 to $431.33. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $431.34 to $432.32. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $432.34 to $433.31. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

The sales were executed in multiple trades at prices ranging from $433.37 to $434.36. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.


Common Stock

Common Stock

These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.

Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.

Reflects shares held in the 401K Plan to include employer match as of 08/07/2025.


Common Stock

Common Stock


Common stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Stock options will vest immediately if the price of the Company's common stock reaches $25.00 per share during the seven-year option term.

8,750 stock options vest upon issuance, 8,749 options vest on 1/2/2024, 21,000 options vest on 1/2/2025 and 11,501 options vest on 1/2/2026.

Stock options vest 1/3 upon issuance, 1/3 on December 22, 2024 and 1/3 on December 22, 2025.

Stock options vest 1/3 upon issuance, 1/3 on January 21, 2026 and 1/3 on January 21, 2027.

Shares of common stock held by Mayim Limited Partnership as is David Portnoy may be deemed the beneficial owner as the managing member and owner of Mayim Management, LLC, which is the general partner of Mayim Management Limited Partnership, which is the general partner of Mayim Investment Limited Partnership.

Shares of common stock held by uTIPu, Inc. as to which David Portnoy may be deemed the beneficial owner as the Chairman of the Board and Secretary.


The reporting person has voting and dispositive power over the securities held by Fusfield Family Irrevocable Trust ("Fusfield Trust"), and therefore may be deemed to indirectly beneficially own the securities held by Fusfield Trust. The reporting person disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

/s/ Inga Fyodorova, as Attorney-in-Fact for Glenn Fusfield


Barbara and Ted Kennedy TTEE Kennedy Family Trust

Common Stock

Common Stock


Price reflects the weighted average sale price for the sale transactions made on the date reported above. Sale prices ranged from $156.37 to $156.87. The reporting person will provide, upon request by the Staff, the Company, or a security holder of the Company, full information regarding the number of shares purchased or sold at each separate price.

Price reflects the weighted average sale price for the sale transactions made on the date reported above. Sale prices ranged from $157.51 to $157.64. The reporting person will provide, upon request by the Staff, the Company, or a security holder of the Company, full information regarding the number of shares purchased or sold at each separate price.

/s/ Jean M. Sera, by Power of Attorney for Edward P. Linnen


This sale represents the number of shares sold by the Issuer on behalf of the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale was automatic and not at the discretion of the Reporting Person.

This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 7, 2024.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $369.02 to $369.95, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $371.22 to $371.48, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $372.25 to $372.76, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $373.77 to $374.36, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $375.46 to $376.06, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $376.60 to $376.64, inclusive.


Common Stock

Common Stock

These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.

Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.


Represents restricted stock units ("RSUs") that were fully vested as of the grant date. These RSUs were granted pursuant to the Issuer's Key Employee Equity Bonus Plan, in lieu of a cash bonus earned for the second quarter of 2025.

In an exempt disposition to the issuer under Rule 16b-3(e), the Reporting Person remitted shares to the issuer in connection with the satisfaction of tax withholding obligations arising out of the vesting of RSUs.

This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 13, 2024.


Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations upon the vesting, on August 14, 2025, of 6.25% of the original number of time-based restricted stock units ("RSUs") granted to the Reporting Person on February 14, 2022. The remaining RSUs vest quarterly in equal installments of 6.25%, with a final vesting date occurring on February 14, 2026, subject to the continued service of the Reporting Person on each such vesting date.

/s/Peter J. Rivas as attorney-in-fact for Karen M. Soares


Common Stock

Represents deferred stock units granted under the Amended and Restated WK Kellogg Co 2023 Long-Term Incentive Plan pursuant to an election made by the Reporting Person under the non-employee director compensation program of the Issuer.  Each deferred stock unit is the economic equivalent of one share of the common stock of the Issuer (Common Stock).  The deferred stock units are payable in shares of Common Stock, either in a lump sum or in ten annual installments, commencing on the date on which the service of the Reporting Person as a Director terminates.


Represents shares withheld to cover the Reporting Person's withholding tax obligations in connection with the vesting of a restricted share award. These shares were not sold by the Reporting Person.

Includes 1,426,800 shares of Class A Common Stock underlying restricted stock units, which are subject to forfeiture until they vest.


Common Stock


Automatic sale pursuant to a 10b5-1 Trading Plan adopted by the Reporting Person on October 15, 2024, as amended on April 14, 2025.


Common Stock

On July 27, 2025, Elray Resources, Inc. exercised Common Stock Purchase Warrants to purchase 3,000,000 shares of the Issuer's common stock at an exercise price of $1.68 per share. Elray Resources, Inc. paid the exercise price on a cashless basis, resulting in the Issuer withholding of 1,680,000 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 1,320,000 shares.

Includes 1,318,000 shares of Common Stock that are expected to be repurchased by the Issuer following the date of this Form 4 pursuant to the terms of that certain Settlement and Release Agreement dated and effective April 23, 2024, by and between the Issuer, Elray Resources, Inc. and Luxor Capital, LLC, as previously disclosed.

This transaction was executed in multiple trades at prices ranging from $3.83 to $3.40, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

This transaction was executed in multiple trades at prices ranging from $4.84 to $3.00, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

This transaction was executed in multiple trades at prices ranging from $3.37 to $3.00, inclusive. The price reported above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Elray Resources, Inc., by /s/ Anthony Brian Goodman, CEO


Common Stock

Represents a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $11.835 to $11.915, inclusive. The reporting person undertakes to provide upon request by the Securities and Exchange Commission, the issuer, or a securityholder of the issuer detailed information regarding the price and number of shares sold within the range indicated.

Represents a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $11.88 to $12.086, inclusive. The reporting person undertakes to provide upon request by the Securities and Exchange Commission, the issuer, or a securityholder of the issuer detailed information regarding the price and number of shares sold within the range indicated.

Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain restricted stock units on August 15, 2025 and does not represent a sale by the reporting person.

Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain performance-based restricted stock units on August 15, 2025 and does not represent a sale by the reporting person.

Represents a stock option to purchase 1,250,000 shares of common stock granted on May 19, 2020, which vested over 4 years through May 18, 2024.


Automatic sale pursuant to a 10b5-1 Trading Plan adopted by the Reporting Person on October 15, 2024.

By: Winston King, Attorney-in-Fact for Michael George Rosenbaum


The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan, adopted May 15, 2024.


The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2023 (and to which each of Crilly Court Trust and Grant Place Fund LLC is a party).  The 10b5-1 plan included a representation from the Reporting Person to the broker administering the plan that the Reporting Person was not in possession of any material nonpublic information regarding the Issuer or the securities subject to the plan.  That representation was made as of the date of the adoption of the 10b5-1 plan, and speaks only as of that date.  In making that representation, there is no assurance with respect to any material nonpublic information of which the Reporting Person was unaware, or with respect to any material nonpublic information acquired by the Reporting Person after the date of the representation.

The price reported in Column 4 is a weighted average price.  These shares were sold in multiple transactions at prices ranging from $11.00 to $11.21, inclusive.  The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Securities are held by the Crilly Court Trust, of which the Reporting Person is a beneficiary. The Reporting Person disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

Securities are held by Grant Place Fund LLC, of which the Reporting Person is the Manager. The Reporting Person disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

/s/Derek Harmer, Attorney-in-fact for David W. Ruttenberg


Shares were purchased within the Issuer's Employee Stock Purchase Plan.

/s/ Lynn M. Floeter, attorney-in-fact for Nicole M. Kitowski


The shares were sold in multiple trades at prices ranging from $87.66 to $88.36. The price reported above reflects the weighted average sales price.

/s/ Matthew J. Leonard, by attorney-in-fact Meredith W. Cook


Represents shares automatically sold to satisfy tax withholding obligations in connection with the vesting of Restricted Stock Units ("RSUs") and delivery of shares.


/s/ Stephen Chen, as Attorney-in-Fact for Matthew Skaruppa


/s/ Stephen Chen, as Attorney-in-Fact for Natalie Glance


Shares held by Eliot Meese Qualified Minor's Trust.

Shares held by Isaac Meese Qualified Minor's Trust.

/s/ Stephen Chen, as Attorney-in-Fact for Robert Meese


Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Exhibit List: Exhibit 24 - Power of Attorney


The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

This transaction was executed in multiple trades at prices ranging from $338.56 to $339.56  inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

These shares of Class A Common Stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.

These shares of Class A Common Stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Investment Trustee
and Co-Administrative Trustee of the Multi-Generational Trust.

This transaction was executed in multiple trades at prices ranging from $339.57 to $340.08 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $340.08 to $340.54 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $340.59 to $340.63, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $340.63 to $340.81, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $341.87 to $342.70 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $342.96 to $343.01 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $343.01 to $343.91 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $344.02 to $344.16 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $344.16 to $345.00, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $345.10 to $345.80 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $345.80 to $346.08 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $346.18 to $347.18 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $347.19 to $347.65 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $347.65 to $348.18 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $348.20 to $348.74 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $348.74 to $349.20 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $349.21 to $350.21 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $350.27 to $351.03 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III


Includes adjustments for accrued dividends pursuant to dividend reinvestment and exempt from Sec 16 under Rule 16a-11


Represents the acquisition of shares of common stock issued upon the vesting of the performance share units granted on March 15, 2022, which performance share unit awards were subject to vesting over an approximately three-year performance period contingent upon the achievement of certain performance objectives.

Represents shares of common stock withheld by the Issuer to satisfy certain tax withholding obligations with the vesting of the performance share units.

This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on May 15, 2025.

Shares sold include 379 shares from the February 27, 2025 acquisition described herein and 307 shares previously reported on the Form 4 filed March 18, 2025.


The Richard & Sarah Barton Irrevocable Trust 03/27/10

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $83.435 to $84.42.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $84.44 to $85.43.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $85.44 to $85.58.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $84.84 to $85.83.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $85.84 to $86.13.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $85.49 to $86.13.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.


Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.


Common Stock

Reflects the vesting of previously reported awards. Awards vest 2022-2025.


The reporting person sold the shares to satisfy income tax liabilities incurred as a result of the vesting of restricted stock units previously granted to the reporting person. The transaction reported on
this Form 4 was effected pursuant to trading instructions given by the reporting person on August 18, 2022 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.


The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

This transaction was executed in multiple trades at prices ranging from $341.12 to $341.96 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

These shares of Class A Common Stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.

These shares of Class A Common Stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Investment Trustee
and Co-Administrative Trustee of the Multi-Generational Trust.

This transaction was executed in multiple trades at prices ranging from $342.23 to $342.84 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $342.84 to $343.23 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $343.24 to $344.24, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $344.25 to $345.25 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $345.26 to $345.69 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $345.69 to $346.24 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $346.29 to $347.20, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $347.30 to $348.30 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

This transaction was executed in multiple trades at prices ranging from $348.70 to $348.87 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.


Dawson Geophysical Company-Common Stock $0.01 par value

The reported price is a weighted average purchase price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.


Spouse is Trustee of Shares Held by Trust

Mr. Gerdin is the trustee of the Michael J. Gerdin Revocable Trust.

The price reflects a weighted average purchase price for multiple transactions ranging from $8.16 to $8.20 per share, inclusive. The reporting person undertakes to provide upon request by the SEC staff, the issuer, or a stockholder of the issuer, full information regarding the number of shares purchased at each separate price.

Mr. Gerdin is the trustee of grantor retained annuity trusts established by Ann S. Gerdin for her benefit.

Mr. Gerdin is a co-trustee of the Ann S. Gerdin Revocable Trust.

Mr. Gerdin is a co-trustee of the 2009 Gerdin Heartland Trust. As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust.

Mr. Gerdin is the trustee of trusts created for the benefit of his children.

Mr. Gerdin is a co-trustee of the 2007 Gerdin Heartland Trust. As a co-trustee, Mr. Gerdin disclaims beneficial ownership with respect to this trust.

Mr. Gerdin is a co-general partner of Gerdin Family Investments LP. Beneficial ownership is disclaimed except to the extent of Mr. Gerdin's percentage ownership of general and limited partner shares in the partnership.

Mr. Gerdin's spouse is the trustee of the Michael J. Gerdin Family Trust.


On August 14, 2025, Hendricks Factual Media LLC ("HFM") sold 8,050,000 shares of common stock at a price of $3.50, before underwriting discounts and commissions, in an underwritten secondary public offering (the "Offering"), which includes 1,050,000 shares of common stock sold in connection with the exercise in full of the overallotment option granted by HFM to the underwriters pursuant to the underwriting agreement for the Offering.

The reported securities are owned directly by HFM, and indirectly by John Hendricks, as a manager of HFM. John Hendricks disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

/s/ P. Brady Hayden as attorney-in-fact for John Hendricks


Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

25% of the Restricted Stock Units vest on the date of grant  and an additional 25% vest on each anniversary date of the date of grant as follows: August 14, 2026, August 14, 2027, and August 14, 2028. The Expiration Date is August 14, 2028.

Represents the right to purchase one share of Common Stock in exchange for the exercise price at the date the reporting person exercises the right.

Stock options granted pursuant to Distribution Solutions Group, Inc. Equity Compensation Plan, as amended and restated effective October 17, 2022 (as amended on November 10, 2022). The stock options vest and become exercisable in 20% installments on August 14, 2026, August 14, 2027, August 14, 2028, August 14, 2029 and August 14, 2030, respectively, subject to the Reporting Person's continued employment by the Company through each respective date.


Common Stock

Common Stock

Reflects the vesting of previously reported awards. Awards vest 2022-2027.

Reflects cash fees that the director has elected to defer under the Company's deferred compensation plan, which are notionally invested in a measurement fund tracking the Company's common stock during the deferral period.  Each deferred stock unit is equal to one share of the Company's common stock, and becomes distributable in common stock upon the reporting person's separation from service as a member of the Board of Directors of the Company.

Inclusive of previously reported deferred stock units.


These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

These securities are held by co-founder and EVP, Dr. Kristina Masson, who is also Dr. Blume-Jensen's spouse. Dr. Blume-Jensen disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.


Common Stock

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 19, 2025.

The reported price represents a weighted average sale price. The range of prices at which common stock was sold was $54.67 to $55.66 per share. The Reporting Person undertakes to provide to the staff, the issuer or a security holder full information regarding the number of shares sold at each separate price.

The reported price represents a weighted average sale price. The range of prices at which common stock was sold was $55.69 to $56.66 per share. The Reporting Person undertakes to provide to the staff, the issuer or a security holder full information regarding the number of shares sold at each separate price.

The reported price represents a weighted average sale price. The range of prices at which common stock was sold was $56.80 to $57.13 per share. The Reporting Person undertakes to provide to the staff, the issuer or a security holder full information regarding the number of shares sold at each separate price.

Includes 453,953 shares held directly, 75,770 restricted stock unit, and 48,458 earned performance share units with additional service-based vesting.

The option vests/ vested in four equal annual installments beginning on March 2, 2018.

Leah Trzcinski, pursuant to power of attorney


These transactions were effected by the Reporting Person pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2024.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $14.65 to $15.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $15.74 to $15.84, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.


Common Stock

Common Stock

Reflects the vesting of a previously reported award. Award vested in 2025.


Common Stock

Common Stock

Reflects the automatic surrender of shares of common stock to the Company to satisfy tax withholding obligations related to the vesting of the awards described above.


Includes 46,271 RSUs.

/s /Guy Zeltser, Attorney-in-Fact for Michael Stienstra


Reflects the transfer of securities, previously reported as directly held by the Reporting Person to a revocable trust established by the Reporting Person, of which the Reporting Person and the Reporting Person's spouse are joint trustees. There was no purchase or sale of securities in connection with said transfer. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Senior Vice President, Global Operations

/s/ John L. Healy (POA on file) for Tajinder S. Vohra


Represents weighted average price.

Represents weighted average price.

Mr. Shaw has investment power over 500,000 shares as Trustee for the benefit of a family member. Mr. Shaw has voting control over the remainder of the shares pursuant to a voting agreement.

The Rule 10b5-1 Plan's date of adoption was August 22, 2024.


Common Units (Limited Partner Interests)

Pursuant to that certain Omnibus Agreement (the "Omnibus Agreement") dated November 15, 2016, by and among PAA GP Holdings LLC ("PAGP GP"), Plains GP Holdings, L.P. ("PAGP"), Plains All American GP LLC ("GP LLC"), Plains AAP, L.P. ("AAP"), PAA GP LLC and Plains All American Pipeline, L.P. ("PAA"), AAP is obligated to issue to PAGP a number of AAP Class A units equal to the number of PAGP Class A shares issued upon vesting of awards under PAGP's long-term incentive plan. The Omnibus Agreement also provides that immediately following such issuance, PAA is obligated to issue to AAP an equivalent number of PAA Common Units. On August 14, 2025, a total of 144,500 PAGP Class A shares were issued in connection with the vesting of outstanding LTIP awards under PAGP's long-term incentive plan. An equal number of AAP Class A units was issued to PAGP and an equal number of PAA Common Units was issued to AAP.

PAGP GP is the general partner of PAGP, which is the managing member of GP LLC, which is the general partner of AAP. Each of PAGP GP, PAGP and GP LLC may be deemed to indirectly beneficially own the Common Units directly held by AAP, but disclaim beneficial ownership of such Common Units except to the extent of their respective pecuniary interests therein.


Common Stock


Represents restricted stock units scheduled to vest in approximately three equal installments on August 15, 2026, August 15, 2027, and August 15, 2028.

Includes restricted stock units scheduled to vest in the future.

/s/ John A. Mikowski, Deputy General Counsel and Assistant Corporate Secretary, as Attorney-in-Fact


Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

The transaction reported was effected pursuant to a 10b5-1 trading plan established by the reporting person on September 12, 2024.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $254.94 to $255.94, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $256.22 to $257.19, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $257.36 to $258.34, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $258.39 to $259.37, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $259.41 to $260.36, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $260.47 to $261.45, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $261.48 to $262.38, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $262.68 to $263.39, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $266.50 to $267.08, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $268.33 to $268.65, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting.  The performance rights vest at a rate between 0% and 200% during a three-year performance cycle beginning on April 1, 2025 and ending on March 31, 2028 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting.  The performance rights vest at a rate between 0% and 200% during a three-year performance cycle beginning on April 1, 2024 and ending on March 31, 2027 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vest at a rate between 0% and 200% during a three-year performance cycle beginning on April 1, 2023 and ending on March 31, 2026 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting.  The performance rights vest in two equal amounts, at a rate between 0% and 200%, during two performance cycles beginning April 1, 2021 ending on each of March 31, 2026 and 2027 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.

Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock at vesting.  40% of the restricted stock units vest no earlier than April 26, 2025 upon the successful recruitment and hiring of a successor Chief Executive Officer; the remaining 60% vest upon the successful first employment anniversary of a successor Chief Executive Officer.


Common Stock

Reflects the vesting of previously reported awards. Awards vest 2022-2027.


The transaction reported was effected pursuant to a 10b5-1 trading plan established by the reporting person on September 13, 2024.


The sale reported on this Form 4 occured automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 4, 2024.

The reported price per share is the weighted average sale price for the shares.


Reporting person is one of four trustees of a voting trust which is record owner of these  Common Shares and which files its holdings on a form 4. The shares reported are held by respective reporting person and her family members that have a pecuniary interest in such securities. Includes
693,677 Common Shares held by a family partnership of which reporting person is a general partner.


Includes 56,121 RSUs.

/s /Guy Zeltser, Attorney-in-Fact for Torben Ostergaard


Common Stock

Inclusive of previously reported deferred stock units.


The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $32.50 to $32.81, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $32.30 to $32.46, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

The price reported is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $31.78 to $32.13, inclusive. The reporting person undertakes to provide to Hilltop Holdings Inc., any stockholder of Hilltop Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.


Class A Shares

Class A Shares

Class A Shares

Phantom Class A shares granted under Long-Term Incentive Plan (includes associated dividend equivalent rights payable in cash).

One Class A share is deliverable for each Phantom Class A share that vests.

Upon termination of service as director, other than because of death, disability or retirement.


Owned jointly with spouse.


Represents restricted stock units scheduled to vest in approximately three equal installments on August 15, 2026, August 15, 2027, and August 15, 2028.

Includes restricted stock units scheduled to vest in the future.


These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2025.

This transaction was executed in multiple trades at prices ranging from $27.72 to $28.06. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2029. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock awards and restricted stock units will be cancelled by the Issuer.

Represents shares that have been withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the vesting and net settlement of restricted stock units previously reported.


Class A Shares

Class A Shares

Class A Shares


Includes 67,842 RSUs.


Class A Common Stock

Class A Common Stock

Each UWM Paired Interest consists of one share of non-economic voting Class D Common Stock of UWM Holdings Corporation (the "Issuer") ("Class D Stock") and one Class B common units of UWM Holdings, LLC ("UWM LLC") ("Class B Common Units"), a subsidiary of the Issuer. Each UWM Paired Interest is convertible for one share of Class A Common Stock of the Issuer (i) at any time at the option of the holder or (ii) automatically upon transfer to a third person. These shares of Class A Common Stock were acquired by SFS Holding Corp. ("SFS Corp") upon the conversion of an equal number of UWM Paired Interests.

These securities are held directly by SFS Corp, a 10% holder of the Issuer, and indirectly by Mat Ishbia.  Mat Ishbia is the Chief Executive Officer and sole director of SFS Corp and serves as the investment advisor to the trust that owns the voting securities of SFS Corp, and therefore exercises all voting and dispositive power of the securities held by SFS Corp.  In addition, trusts for the benefit of Mat Ishbia and his immediate family are shareholders of SFS Corp.  By virtue of its relationship with Mat Ishbia, a director and the CEO of the Issuer, SFS Corp may be deemed to be a director by deputization.

Sold pursuant to the 10b5-1 Plan adopted by SFS Corp on March 17, 2025.

Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.32 to $5.57 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each price.

Represents the weighted average price of shares sold. The price of the shares sold ranged from $5.28 to $5.42 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each price.

These shares are held directly by Mat Ishbia and SFS Corp. has no interests in these shares.

The conversion rights related to the UWM Paired Interests do not expire.

These Restricted Stock Units ("RSUs") convert to Class A Common Stock on a one-for-one basis.

These RSUs vest on March 1, 2026. The RSUs were granted pursuant to the 2020 Omnibus Incentive Plan.


Common Stock

Common Stock

Common Stock

Common Stock

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 plan adopted by the Reporting Person solely covering equity grants with expiration dates prior to August 21, 2025. Following the sales reported in this Form 4, the Reporting Person has a total of 135,000 options to purchase shares of common stock that are vested and immediately exercisable and no unvested options to purchase shares of common stock.

The sale prices ranged from $13.30 to $14.80.

The sale prices ranged from $14.88 to $15.91.

The sale prices ranged from $15.61 to $16.00.

This option is fully vested.

/s/ Michael A. Metzger, Attorney-in-Fact


The price in Column 4 is a weighted average price.  The prices actually ranged from $10.6300 to $10.8000.  The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

The price in Column 4 is a weighted average price. The prices actually ranged from $10.6000 to $10.9550. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

/s/ Teresa M. Nilsen, Attorney-in-Fact for Thomas L. Seavey


Includes 212,464 RSUs.

/s /Guy Zeltser, Attorney-in-Fact for Richard McCathron


Weighted average of sales prices, which ranged from $109.25 to $110.20. The Reporting Person undertakes to provide upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes herein.

Includes Restricted Stock Units that have not yet vested.

Weighted average of sales prices, which ranged from $110.33 to $110.36.


The shares reported as disposed of in this Form 4 were withheld by the Issuer in accordance with the agreement governing the restricted stock units ("RSUs") to satisfy tax obligations of the Reporting Person resulting from the vesting and settlement of RSUs.


Common Stock

Common Stock

The 65,000 stock options were issued pursuant to the Company's 2023 Equity Incentive Plan.

The 135,000 stock options were issued pursuant to the Company's 2024 Equity Incentive Plan.


Common Stock

The stock options ("Options") were issued pursuant to the Company's 2024 Equity Incentive Plan. The 50,000 Options were exercised cashlessly resulting in the issuance of 46,818 shares of common stock.


Common Stock

The stock options ("Options") were issued pursuant to the Company's 2024 Equity Incentive Plan.


Executive Vice President and Chief Financial Officer


Senior Vice President and Chief Accounting Officer


Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Common Stock, no par value

Includes 25,000 RSUs, which will vest on August 4, 2026.

Options vest in four equal annual installments, beginning on August 15, 2025, the date of grant, subject to continued employment through the vesting date.

Options vest in four equal annual installments, beginning on August 4, 2023, the date of grant, subject to continued employment through the vesting date.

Options vest in three equal annual installments, beginning on January 1, 2025, subject to continued employment through the vesting date.

/s/ Marc-Andre Boisseau for Patricia Ann Barron by Power of Attorney


Executive Vice President and Chief Information Officer


Executive Vice President, General Counsel and Corporate Secretary


Common Shares

On August 14, 2024, the reporting person was granted 300,000 RSUs, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share. One-third of the RSUs vested on August 14, 2025 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

The price used to calculate the August 14 RSU vesting was C$0.78, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on August 13, 2025. The price was converted using the Bank of Canada exchange rate for August 13, 2025 of C$1.3767 = US$1.00.

/s/ Fareeha Khan, as attorney-in-fact for Benjamin Urban


Includes 79 shares of common stock acquired under the Performance Food Group Company Employee Stock Purchase Plan on June 30, 2025.

Executive Vice President and Chief Human Resources Officer


Executive Vice President and Chief Development Officer


HUNTER RICHARD J

511 E JOHN CARPENTER FREEWAY, SUITE 600,

Common Shares

On August 14, 2024, the reporting person was granted 375,000 RSUs, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share. One-third of the RSUs vested on August 14, 2025 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

The Form 4 previously filed on June 10, 2025 inadvertently reported the incorrect total and the total stated here reflects the corrected amount.

/s/ Fareeha Khan, as attorney-in-fact for Richard Hunter


Common Shares

On August 14, 2025, the reporting person was granted 300,000 RSUs, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share. One-third of the RSUs vested on August 14, 2025 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

The price used to calculate the June 7 RSU vesting was C$0.78, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on August 13, 2025. The price was converted using the Bank of Canada exchange rate for August 13, 2025 of C$1.3767= US$1.00.


Class A Shares

Class A Shares

Class A Shares

Phantom Class A shares granted under Long-Term Incentive Plan (includes associated dividend equivalent rights payable in cash).

One Class A share is deliverable for each Phantom Class A share that vests.

Upon termination of service as director, other than because of death, disability or retirement.


The securities are held in an account managed by TDG CP LLC ("Donerail"). Mr. Wyatt has voting and investment interests in Donerail and may be deemed to beneficially own the securities held in the account. Mr. Wyatt disclaims beneficial ownership of the securities held in the account managed by Donerail except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that Mr. Wyatt is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

These include 11,620 restricted shares that will vest on April 1, 2026.

/s/ Megan S. Wynne, attorney-in-fact for William Wyatt


Represents a gift of 10,000 shares of common stock to each of Opportunity Project, Inc. and Warren Township Honorary P.B.A., Inc., which are charitable entities.


Represents deferred share units issued pursuant to the Director Deferred Share Program of Tanger Inc. and Tanger Properties Limited Partnership. Each deferred share unit is equivalent to one common share. The deferred share units become payable in common shares upon termination of his service as a director.

Since the Reporting Person's last Form 4, 93.51 deferred share units were acquired through a dividend reinvestment program.

/s/ Eric Richardson, attorney-in-fact for Mr. Citrin


The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 20, 2025.

Represents weighted average sales price. The shares were sold at prices ranging from $179.560 to $180.530. The Reporting Person will provide upon request, to the Securities and Exchange Commission (the "SEC"), the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $180.560 to $181.550. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $181.560 to $182.540. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $182.560 to $182.960. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $178.140 to $179.130. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $179.140 to $180.130. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $180.140 to $181.130. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Represents weighted average sales price. The shares were sold at prices ranging from $181.140 to $181.880. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

The shares are held by Jen-Hsun Huang and Lori Huang, as co-trustees of the Jen-Hsun & Lori Huang Living Trust, u/a/d May 1, 1995 (the "Trust").

The shares are held by J. and L. Huang Investments, L.P., of which the Trust is the general partner.

The shares are held by The Huang 2012 Irrevocable Trust, of which the Reporting Person is a trustee.

The shares are held by The Huang Irrevocable Remainder Trust u/a/d February 19, 2016, of which the Reporting Person is a trustee.

The shares are held by The Lori Lynn Huang 2016 Annuity Trust II Agreement.

The shares are held by The Jen-Hsun Huang 2016 Annuity Trust II Agreement.

The shares are held by TARG S LLC, of which the Trust is the sole member.

The shares are held by TARG M LLC, of which the Trust is the sole member.

/s/ Rebecca Peters, Attorney-in-Fact for Jen-Hsun Huang


The shares reported as disposed of in this Form 4 were withheld by the Issuer in accordance with the agreement governing the restricted stock units ("RSUs") to satisfy tax obligations of the Reporting Person resulting from the vesting and settlement of RSUs.

/s/ Michael G. Potter, as attorney-in-fact for Thi L. La


Class A Common Stock

Class A Common Stock

Class A Common Stock

Class A Common Stock

Each share of Class B Common Stock held by the Reporting Person will automatically convert into one share of Class A Common Stock upon the sale or transfer of such share of Class B Common Stock, subject to certain exceptions, and in certain other circumstances described in the Issuer's amended and restated certificate of incorporation. Each share of Class B Common Stock will also be convertible at any time at the option of the Reporting Person into one share of Class A Common Stock.

Shares sold pursuant to a 10b5-1 trading plan adopted August 15, 2024.

The shares were sold at prices ranging from $16.67 to $17.665. The reporting person will provide to the SEC, the issuer or security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The shares were sold at prices ranging from $17.67 to $17.92. The reporting person will provide to the SEC, the issuer or security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The shares are held by The Edward J. Kreps and Jamaica H. Kreps 2018 Revocable Trust.

The shares are held by the GST Exempt Trust under The Kreps Family 2019 Irrevocable Trust under agreement dated 9/26/2019.


The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 30, 2024.

/s/ Paul Edward Chamberlain by Russell S. Elmer, Attorney-in-Fact


Sale pursuant to 10b5-1 Plan dated March 25, 2025.

Common Units representing limited partner interests in the Issuer ("Common Units") were sold at a weighted average price.  These common units were sold in multiple transactions at prices from $50.00 to $51.26, inclusive.  The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Common Units sold at each separate price within the range set forth in this footnote (2) to this Form 4

Erin Powers Brennan, Attorney-in-Fact for Mark Romaine


Common Stock

Each time-based restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. The RSUs do not expire. They either vest or are cancelled prior to the vesting date.

Due to a scrivener's error in the Reporting Person's Form 4s filed on June 9, 2025, the number of shares of Common Stock beneficially owned directly by the Reporting Person was inadvertently overstated by 500 shares. The corrected number of shares beneficially owned directly is reflected in this Form 4.

Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations upon the vesting of RSUs.

Shares held by the Anne Marie McConnell Trust dated July 16, 2021, for which the Reporting Person's spouse is the sole trustee.  The Reporting Person disclaims Section 16 beneficial ownership of the shares except to the extent of his pecuniary interest, if any, therein, and nothing contained in this report shall be deemed an admission that the Reporting Person is the beneficial owner of any of the shares for Section 16 purposes or otherwise.

Represents the vesting of RSUs granted on December 13, 2021. 50% of the RSUs granted vested in two equal installments on November 15, 2022 and November 15, 2023. For the remaining 50% of the RSUs granted, 25% vested on November 15, 2022 and the balance vests in equal quarterly installments thereafter until fully vested on November 15, 2025, subject to the Reporting Person's continued employment on the applicable vesting dates.


This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 20, 2025.

This transaction was executed in multiple trades during the day at prices ranging from $167.37 to $168.33. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

This transaction was executed in multiple trades during the day at prices ranging from $168.41 to $168.71. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

This transaction was executed in multiple trades during the day at prices ranging from $164.24 to $165.19. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

This transaction was executed in multiple trades during the day at prices ranging from $166.35 to $167.34. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

This transaction was executed in multiple trades during the day at prices ranging from $162.60 to $162.79. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

This transaction was executed in multiple trades during the day at prices ranging from $165.35 to $166.32. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

/s/ Veena Bhatia, Attorney-in-Fact for Cannon-Brookes Michael


Krishnamoorthy Venkatanarayanan

WELLESLEY HOUSE NORTH, 90 PITTS BAY ROAD

The price reported in Column 4 represents a weighted average price. These Class B common shares were sold in multiple transactions at prices ranging from $24.00 to $24.01, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.


This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 12, 2025.

Shares are held by Farquhar Investment Partnership No. 2.

/s/ Veena Bhatia, Attorney-in-Fact for Farquhar Scott


Represents restricted shares of common stock of the Issuer issued under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan for Estate Planning Vehicles. The restricted shares vest in installments in accordance with the terms of the applicable award agreement, provided the reporting person remains in service through the applicable vesting date.

Held by Heathcote Capital Partners LP, a vehicle directly and indirectly owned by the reporting person, his spouse and certain family trusts and over which the reporting person exercises voting and investment control.

Reported amount includes 4,651,303 vested and unvested restricted stock units ("RSUs") granted under the Apollo Global Management, Inc. 2019 Omnibus Equity Incentive Plan. Each RSU represents the contingent right to receive, in accordance with the issuance schedule set forth in the applicable RSU award agreement, one share of common stock of the Issuer for each vested RSU. The RSUs vest in installments in accordance with the terms of the applicable RSU award agreement, provided the reporting person remains in service through the applicable vesting date.

Held by KRT Investments LLC. The reporting person disclaims beneficial ownership of the securities indirectly or directly held by KRT Investments LLC reported herein and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Held by KRT Investments VII LLC, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Held by KRT Investments IX LLC ("Investments IX"). Investments IX is owned by the reporting person and a trust for the benefit of the reporting person's descendants and for which the reporting person's father acts as trustee. The reporting person disclaims beneficial ownership of the securities held by Investments IX, except to the extent of his direct or indirect pecuniary interest.

Held by KRT Delaware LLC. The reporting person disclaims beneficial ownership of the securities indirectly or directly held by KRT Delaware LLC reported herein and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Held by HCM APO Series LLC, Series A, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Held by HCM APO Series LLC, Series B, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Held by HCM APO Series LLC, Series C, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Held by The Kleinman Children's Trust, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Held by The Kleinman Descendant's GST-Exempt Trust, a vehicle directly and indirectly wholly owned by the reporting person over which the reporting person exercises voting and investment control.

Co-President of Apollo Asset Management, Inc.

/s/ Jessica L. Lomm, as Attorney-in-Fact


Class A Common Stock

On December 7, 2023, Company declared a stock dividend, payable to all holders on record of Common Stock and Class A Common Stock as of January 8, 2024, of one share of Class A Common Stock for every four shares of Common Stock and Class A Common Stock outstanding.  At the same time, pursuant to anti-dilution provisions, an option for 7,043 shares Class A Common Stock on January 8, 2024 became exercisable for 8,803 shares of Class A Common Stock.

Shares withheld by the Issuer in payment of the aggregate option exercise price incurred upon the above-reported exercise of options. The amount of shares withheld is based on the respective average of the high and low sales prices on the date of exercise.

This option was previously reported as an option for 7,043 shares of Class A Common Stock at an exercise price of $28.40 per share, but was adjusted to reflect the stock dividend declared by Company on December 7, 2023.  As a result of the stock dividend, the option also entitled the Reporting Person to receive, upon exercise, 1,760 shares of Class A Common Stock for no additional consideration.

Options were granted on February 11, 2020, and all shares are vested and have been exercised.

/s/Filomena Eickstaedt as Attorney-in-Fact for Christopher Metz


Disposition of shares exempt under Rule 16b-3 as payment of tax liability to Company by delivery or withholding securities incident to vesting of restricted stock units.

Reporting Person's total direct holdings disclosed in Table I, Item 5 under Amount of Securities Beneficially Owned Following Reported Transaction(s) includes 62 shares acquired July 31, 2025 under the Amended and Restated 2007 Employee Stock Purchase Plan.

Thomas C. Indelicarto by Power of Attorney for John Calys


Common Stock

This option is scheduled to fully vest on the third anniversary of the date of grant and has a 7-year term.

Senior Vice President, Chief Commercial Officer

/s/ John L. Healy (POA on file) for Miriame Victor


Class A Common Stock

Class A Common Stock

Class A Common Stock

92,000 shares of Class B Common Stock were converted into 92,000 shares of Class A Common Stock at the election of the Reporting Person and had no expiration date.

Shares held by the Andrew Houston Revocable Trust u/a/d 9/7/2011, for which Reporting Person serves as trustee.

These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2025.

This transaction was executed in multiple trades at prices ranging from $27.71 to $28.11. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

These securities are restricted stock awards of Class A Common Stock. The restricted stock awards vest over a period of up to ten years following the closing of the Issuer's initial public offering of Class A Common Stock, or March 27, 2028, upon achievement of service-based, market-based, and liquidity event-related performance vesting conditions.

Shares held by the Houston Remainder Trust u/a/d 12/30/2010, for which reporting Person serves as trustee.

Shares held by The Erin Yu Houston Revocable Trust u/a/d 1/18/2024, for which the Reporting Person's spouse serves as trustee.

The Issuer's Class B Common Stock is convertible into the Issuer's Class A Common Stock on a one-for-one basis at the Reporting Person's election and has no expiration date.

Shares held by the Houston 2012 Irrevocable Children's Trust u/a/d 4/12/2012, for which Reporting Person serves as trustee.


Class A common stock, $0.0001 par value per share

Represents a grant of Restricted Stock Units ("RSUs"), which will be settled in shares of the Issuer's common stock upon vesting. All of the RSUs will vest on December 8, 2025, subject to the Reporting Person's continued service to the Issuer. The RSUs represent an award under the Reporting Person's Quarterly commission program. As the RSUs reflect awards that would otherwise be payable to the Reporting Person in immediately payable cash under such quarterly commission program, all of the RSUs will vest on December 8, 2025, subject to the Reporting Person's continued service to the Issuer.

Held directly by a limited liability company of which the Reporting Person is the sole member.

/s/ Melissa M. Tomkiel, Attorney-in-fact for Scott M. Wunsch


Class A Shares

Class A Shares

Phantom Class A shares granted under Long-Term Incentive Plan (includes associated dividend equivalent rights payable in cash).

One Class A share is deliverable for each Phantom Class A share that vests.

Upon termination of service as director, other than because of death, disability or retirement.


Class A Common Stock

As part of the transactions effected on August 14, 2025 pursuant to the Rule 10b5-1 trading plan adopted by the Baiju Bhatt Living Trust ("Living Trust") on August 12, 2024 ("Bhatt 10b5-1 plan"), the
Living Trust sold an aggregate of 418,338 shares of its Class B Common Stock, resulting in an automatic conversion of the same amount of shares into Class A Common Stock upon execution of the
sales.

This transaction was effected pursuant to the Bhatt 10b5-1 plan.

This transaction was executed in multiple trades during the day at prices ranging from $106.71 to $111.44. The weighted-average price is reported above. The Reporting Person hereby undertakes to
provide to the SEC staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were made.

/s/ Matthew Yorkavich, attorney-in-fact for Baiju Bhatt


Common Shares

Common Shares

Common Shares

Common Shares

Reporting person sold Common Shares at an average price of $38.1576 of which the Common Shares were sold in multiple transactions at prices ranging from $37.7799 and $38.67. The reporting person undertakes to provide to the SEC, the Issuer and any security holder, the full information regarding the number of shares and the prices at which the shares were sold.

Granted under the Long Term Incentive Plan.  Stock options are exercisable.


Common Stock

Shares issued upon vesting of restricted stock units ("RSUs") on August 14, 2025.

Surrender of common stock upon vesting of RSUs to satisfy tax withholding obligations.

Each RSU represents a right to receive one share of the issuer's common stock.

16,667 RSUs vested on August 14, 2025.

The remaining reported RSUs will vest as follows: 54,167 RSUs shall vest on the second anniversary of August 14, 2024 (the "Grant Date"), 54,166 RSUs shall vest on the third anniversary of the Grant Date, and 75,000 RSUs shall vest on the fourth anniversary of the Grant Date, subject to the reporting person's continuous employment or service to the issuer through the applicable vesting date.

Jack W. Kennedy Jr., Attorney-in-Fact for Ronald Totton


Non-qualified Stock Option (Right to Buy)

Common Stock

As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 9, 2025.

Shares held in the reporting person's name or in the Marc R. Benioff Revocable Trust.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $235.9500 to $236.0300 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $238.2206 to $239.0900 inclusive.  The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $239.4500 to $240.4000 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $240.5139 to $241.4937 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $241.6606 to $242.5855 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $242.7418 to $243.3261 inclusive.  The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Weighted average price.  These shares were sold in multiple transactions at prices ranging from $243.7481 to $244.1884 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Shares held in the Marc Benioff Fund LLC (the "Fund").  Fund interests are held in the reporting person's name or in trust.

Option vests over four years at the rate of 25% on March 22, 2020, the first anniversary of the holder's date of grant, with the balance vesting in equal monthly installments over the remaining 36 months.

/s/ Andrew Leeds, Attorney-in-Fact for Marc Benioff


Directors Deferred Compensation Stock Units

Common Stock

Each Director Deferred Compensation Stock Unit consists of one share of Common Stock credited as units under the Company's Deferred Plan for Directors.

Deferred units are payable commencing the fifth business day of January following the reporting person's retirement or separation from the Board.

Unit price consisting of the closing price of one share of Common Stock.

This total includes reinvested dividends that have been paid on the individual's Directors Deferred securities.

/s/ Katherine A. Lane, Attorney-in-fact for Bonnie Cruickshank Lind


Disposition of shares exempt under Rule 16b-3 as payment of tax liability to Company by delivery or withholding securities incident to vesting of restricted stock units.


The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $48.70 to $49.25, inclusive. The reporting person undertakes to provide to PhenixFIN Corporation, any security holder of PhenixFIN Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.


Non-Employee Director Stock Option (Right to Buy)

Common Stock

This transaction was executed in multiple trades at prices ranging from $481.10 to $482.63. The price reported reflects the volume weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

Includes 290 shares underlying Restricted Stock Units allocated but not yet vested or delivered.

These options became fully exercisable on January 8, 2023 and expire on January 8, 2026.

/s/ Seth G. Schuknecht, attorney-in fact


Reporting Person's total direct holdings disclosed in Table I, Item 5 under Amount of Securities Beneficially Owned Following Reported Transaction(s) includes 99 shares acquired July 31, 2025 under the Amended and Restated 2007 Employee Stock Purchase Plan.

Thomas C. Indelicarto by Power of Attorney for Danny R. McPherson


This Form 4 reports the withholding of shares by the issuer to cover tax withholding obligations in connection with the vesting of restricted stock units under the issuer's 2021 Equity Incentive Plan.

Represents securities held directly by Ashigrace LLC. Dushyant Sharma is the sole manager of Ashigrace LLC and has sole voting and dispositive power with respect to the securities held by Ashigrace LLC.