[Form 4] Brady Corporation Insider Trading Activity

Rhea-AI Filing Summary

Brady Corporation (BRC) Director and President & CEO Russell Shaller reported equity activity on a Form 4 showing restricted stock units vesting and a subsequent tax-withholding sale. On 09/03/2025, 17,416 restricted stock units vested, each settled by one share of Class A common stock, and those shares were recorded as acquired at $0 for vesting purposes. To cover taxes on the vesting, 8,184 shares were withheld and disposed of at $77.11 per share. After these transactions, Mr. Shaller beneficially owned 135,080 shares of Class A common stock. The filing was signed by an attorney-in-fact on 09/04/2025.

Positive

• 17,416 restricted stock units vested, converting to shares and aligning executive pay with multi-year performance goals
• Beneficial ownership increased to 135,080 Class A shares, showing continued executive stake in the company

Negative

• 8,184 shares withheld to cover taxes, reducing the net number of shares delivered to the reporting person
• Withholding sale executed at $77.11 represents realized disposition of a material portion of vested shares

Insights

Financial Analyst

TL;DR Routine executive compensation vesting increased insider holdings; a tax-withholding disposition reduced net new shares.

The Form 4 documents the vesting of 17,416 restricted stock units that converted into one-for-one shares, which is a standard compensation realization event rather than an open-market purchase or sale for investment. The net change after tax withholding was an increase to 135,080 shares beneficially owned. The withholding disposition at $77.11 reflects internal tax settlement, not an indicator of opportunistic selling pressure. Impact on float and immediate market supply is minimal given the modest share counts relative to typical public-company floats.

Corporate Governance Expert

TL;DR Vesting of performance-based RSUs shows compensation plan execution; disclosure is timely and complete.

The filing clarifies that the RSUs vested upon meeting multi-year financial goals and were settled in shares, consistent with long-term incentive design. The tax-withholding disposition is plainly disclosed with price and share counts, and the form identifies the reporting persons roles clearly. This is a routine governance disclosure with no governance red flags visible in the reported fields.

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

OMB Number:			3235-0287
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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
09/03/2025

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	09/03/2025		A		17,416(1)	A	$0	143,264	D
Class A Common Stock	09/03/2025		F		8,184(2)	D	$77.11	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

Explanation of Responses:

1. Represents restricted stock units which vested upon achievement of certain financial performance goals over a three-year period. Each restricted stock unit was settled solely by delivery of one share of Class A Common Stock.

2. Represents shares withheld to cover taxes on 17,416 restricted stock units that vested on September 3, 2025.

Remarks:

	Heidi Knueppel, Attorney-In-Fact	09/04/2025
	** 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.
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 Number.

FAQ

What did Russell Shaller report on the BRC Form 4 filed for 09/03/2025?

The filing reports 17,416 restricted stock units vested and 8,184 shares were withheld to cover taxes, with transactions dated 09/03/2025.

How many Class A shares does the reporting person own after the transactions?

After the vesting and withholding, the reporting person beneficially owned 135,080 Class A shares.

At what price were the withheld shares recorded as disposed?

The withheld shares used to cover taxes were disposed at $77.11 per share.

Why did the restricted stock units vest?

The filing states the RSUs vested upon achievement of certain financial performance goals over a three-year period.

Who signed the Form 4 and when?

The filing was signed by Heidi Knueppel, Attorney-In-Fact on 09/04/2025.