[Form 4] BRADY CORP Insider Trading Activity

Rhea-AI Filing Summary

Russell Shaller, President & CEO and a director of Brady Corporation (BRC), reported multiple transactions on 09/18/2025 showing option exercises and contemporaneous market sales. He exercised options tied to two strike prices: $35.14 (2,448 options) and $36.85 (21,295 options), producing corresponding underlying Class A shares. Total beneficial ownership after the transactions is reported as 135,080 and 156,375 shares in different lines, reflecting exercises and sales. The sales were executed in multiple trades at prices of $80.64 and $80.00. Options vest one-third each year over three years per the filing.

Positive

• Transparent disclosure of option exercise details, sale prices, and post-transaction beneficial ownership
• Significant retained ownership remains after transactions, aligning executive and shareholder interests

Negative

• Large sales executed the same day as exercises could be viewed as reduced insider share exposure
• Filing does not specify whether sales were for tax withholding, diversification, or other purposes

Insights

Corporate Insider / Governance Analyst

TL;DR: CEO exercised in-the-money options and sold a portion of shares, realizing gains while retaining substantial ownership.

The filing shows routine executive option exercises followed by market sales, a common liquidity step after vesting. Exercises at $35.14 and $36.85 with sales near $80 indicate material realized gains per share. Retained beneficial holdings remain meaningful in absolute terms, supporting alignment with shareholders. No indication of unusual timing or undisclosed related-party transactions is present in the document.

Securities/Compensation Specialist

TL;DR: Transactions align with standard option vesting and sell-to-cover or diversification activity; structure appears routine.

The options vest one-third annually and the reported exercises and sales on the same date are consistent with typical executive compensation monetization. The filing discloses exact strike prices, sale prices, and remaining beneficial ownership counts, providing transparency. There are no derivative holdings remaining from these reported grants according to Table II. Impact is operationally notable but not unusual or materially adverse based on the filing alone.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Shaller Russell

(Last) (First) (Middle)

6555 W. GOOD HOPE RD

(Street)

MILWAUKEE WI 53223

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BRADY CORP [ BRC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/18/2025		M		2,448	A	$35.14	137,528	D
Class A Common Stock	09/18/2025		S		2,448(1)	D	$80.64	135,080	D
Class A Common Stock	09/18/2025		M		21,295	A	$36.85	156,375	D
Class A Common Stock	09/18/2025		S		21,295(2)	D	$80	135,080	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$35.14	09/18/2025		M			2,448	(3)	09/23/2026	Class A Common Stock	2,448	$0	0	D
Stock Option	$36.85	09/18/2025		M			21,295	(3)	09/22/2027	Class A Common Stock	21,295	$0	0	D

Explanation of Responses:

1. These shares were sold in multiple transactions at $80.64.

2. These shares were sold in multiple transactions at $80.00.

3. Represents options exercisable one third each year for the three years subsequent to the grant date.

Remarks:

	Heidi Knueppel, Attorney-In-Fact	09/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transactions did Russell Shaller report on the Form 4 for BRC?

He reported the exercise of 2,448 options at a $35.14 strike and 21,295 options at a $36.85 strike, with subsequent sales of the corresponding shares.

At what prices were the shares sold according to the filing?

The filing states shares were sold in multiple transactions at $80.64 and $80.00.

How many shares does Shaller beneficially own after the reported transactions?

The report shows beneficial ownership figures of 135,080 and 156,375 in the relevant reporting lines after the transactions.

When were the transactions executed?

All reported transactions are dated 09/18/2025, and the Form 4 is signed by attorney-in-fact on 09/19/2025.

Do the exercised options have vesting or exercisability terms disclosed?

Yes; the filing explains the options "represent exercisable one third each year for the three years subsequent to the grant date."