01/30/2026 | Press release | Distributed by Public on 01/30/2026 19:20
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Deferred Stock Units | (2) | 09/03/2024 | M | 23.08 | (3) | (3) | Common Stock | 23.08 | (2) | 2,890.92 | D | ||||
| Deferred Stock Units | (2) | 12/02/2024 | M | 22.79 | (3) | (3) | Common Stock | 22.79 | (2) | 2,868.13 | D | ||||
| Deferred Stock Units | (2) | 03/03/2025 | M | 23.18 | (3) | (3) | Common Stock | 23.18 | (2) | 2,844.95 | D | ||||
| Deferred Stock Units | (2) | 06/02/2025 | M | 23.60 | (3) | (3) | Common Stock | 23.60 | (2) | 2,821.35 | D | ||||
| Deferred Stock Units | (2) | 09/02/2025 | M | 23.04 | (3) | (3) | Common Stock | 23.04 | (2) | 2,798.31 | D | ||||
| Deferred Stock Units | (2) | 12/01/2025 | M | 22.56 | (3) | (3) | Common Stock | 22.56 | (2) | 2,775.75 | D | ||||
| Employee Stock Option (right to buy) | $71.43 | 01/28/2026 | A | 71,552 | (4) | 01/28/2036 | Common Stock | 71,552 | $ 0 | 71,552 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Mack Robert Paul 2100 HIGHWAY 55 MEDINA, MN 55340 |
CFO, EVP - Finance + Corp Dev | |||
| /s/ Sarah Maveus, as attorney-in-fact | 01/30/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Pursuant to the Issuer's Supplemental Executive Retirement Plan (SERP), the reporting officer has elected to receive quarterly distributions of one share of common stock for each deferred stock unit held. These distributions are being reported on a delayed basis due to administrative error. |
| (2) | Each deferred stock unit represents the right to receive one share of the Issuer's common stock upon the settlement of the units. |
| (3) | At the settlement date elected by the reporting officer under the Issuer's Supplemental Executive Retirement Plan (SERP), the reporting officer is entitled to receive one share of common stock for each deferred stock unit held. The deferred stock units may be transferred into an alternative investment account in the SERP after a period of six months and one day. |
| (4) | The option vests in three equal installments on February 9, 2027, February 8, 2028, and February 13, 2029. |