Was the 962-share transaction by FSS’s Diane Bonina an open-market sale?

No, the 962-share event is classified as an F-code tax-withholding disposition. This means shares were delivered to satisfy exercise price or tax liabilities related to equity compensation, rather than being sold in the open market for discretionary portfolio reasons.

Federal Signal (NYSE: FSS) VP logs tax-withholding share disposition

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Federal Signal Corp executive Diane Bonina reported routine share updates. The filing shows 962 shares of common stock were used as a tax-withholding disposition at $117.49 per share in connection with equity compensation, leaving her with 20,097 directly held shares. Separately, units in the company 401(k) plan were adjusted from 664.5692 to 664.8677 units, reflecting the plan’s valuation at the same share price, rather than a market trade.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Bonina Diane

Role VP, Gen'l Counsel & Secretary

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	962	$117.49	$113K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 20,097 shares (Direct, null); Common Stock — 664.868 shares (Indirect, held by 401(k) plan)

Footnotes (1)

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Key Figures

Tax-withholding shares: 962 shares Tax-withholding price: $117.49 per share Direct holdings after transaction: 20,097 shares +2 more

5 metrics

Tax-withholding shares 962 shares Common Stock used to satisfy tax liability (code F)

Tax-withholding price $117.49 per share Price for 962 withheld shares on May 4, 2026

Direct holdings after transaction 20,097 shares Common Stock directly owned following tax-withholding disposition

401(k) plan units 664.8677 units Units in issuer 401(k) plan convertible into common stock

Prior 401(k) units 664.5692 units Units before adjustment based on $117.49 share price

Key Terms

tax-withholding disposition, 401(k) plan, Common Stock, F-code

4 terms

tax-withholding disposition financial

"were used as a tax-withholding disposition at $117.49 per share in connection"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

401(k) plan financial

"Units held in the Issuer 401(k) plan, which are convertible into Issuer"

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

Common Stock financial

"962 shares of common stock were used as a tax-withholding disposition"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

F-code financial

"The filing does not show discretionary insider selling. It records 962 shares used for tax-withholding related to equity compensation and a small"

Form 4 Insider Transactions: What Each Field Means →

05/05/2026 - 04:55 PM

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
Estimated average burden
hours per response:			0.5

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^*

Bonina Diane

(Last)

(First)

(Middle)

1333 BUTTERFIELD ROAD

SUITE 500

(Street)

DOWNERS GROVE

ILLINOIS

60515

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FEDERAL SIGNAL CORP /DE/ [ FSS ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Gen'l Counsel & Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/04/2026		F		962	D	$117.49	20,097	D
Common Stock								664.8677⁽¹⁾	I	held by 401(k) plan

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Units held in the Issuer 401(k) plan, which are convertible into Issuer common stock, were adjusted from 664.5692 to 664.8677 based on the Issuer price per share of $117.49 on 05/04/2026.

Remarks:

	Diane I. Bonina	05/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did FSS executive Diane Bonina report on this Form 4?

Diane Bonina reported a tax-related share disposition, not an open-market sale. The filing shows 962 shares of Federal Signal common stock were withheld to cover tax obligations at $117.49 per share, tied to equity compensation, leaving 20,097 shares directly owned afterward.

How many Federal Signal (FSS) shares does Diane Bonina hold after this Form 4?

After the reported tax-withholding disposition, Diane Bonina directly holds 20,097 shares of Federal Signal common stock. She also has 664.8677 units in the issuer’s 401(k) plan, which are convertible into common stock based on the plan’s valuation at the stated share price.

What does the 401(k) adjustment mean in the FSS Form 4 for Diane Bonina?

The Form 4 notes that units in the issuer’s 401(k) plan increased from 664.5692 to 664.8677. This reflects a valuation adjustment based on Federal Signal’s $117.49 share price on May 4, 2026, rather than a new purchase or sale transaction by Bonina.

Does this Federal Signal (FSS) Form 4 indicate major insider selling activity?

The filing does not show discretionary insider selling. It records 962 shares used for tax-withholding related to equity compensation and a small 401(k) unit adjustment. Such F-code and plan adjustments are typically routine administrative events rather than directional trading decisions.