[Form 4] Hexcel Corporation Insider Trading Activity

Rhea-AI Filing Summary

Acuren Corp (TIC) Form 4: Director James E. Lillie reported two equity transactions. On 30-Jul-2025, 10,000 restricted stock units (RSUs) vested and were settled for an equal number of common shares (Code M) at a stated price of $0, lifting his direct common-stock holding to 10,000 shares. On 31-Jul-2025, he received a new award of 9,017 RSUs (Code A) that will vest on 31-Jul-2026.

Lillie also has indirect exposure through Mariposa Acquisition IX, LLC, which owns 18,877,500 common shares and 1,000,000 Series A preferred shares (convertible 1-for-1). His estimated pecuniary interest in that vehicle equals 1,746,169 common shares plus 92,500 conversion-eligible shares, though he disclaims beneficial ownership beyond that economic stake. No shares were sold, and no cash changed hands; the preferred stock remains unconverted.

The filing signals continued equity alignment but is immaterial to Acuren’s share count and does not alter control dynamics.

Positive

• No insider sales; the director only acquired shares, which may indicate confidence.
• Alignment extended with a new 9,017-share RSU grant vesting in 2026, encouraging long-term focus.

Negative

• Immaterial size; 10,000 shares is insignificant relative to total float and Mariposa’s 18.9 m-share holding.
• Potential dilution remains from 1,000,000 Series A preferred shares convertible to common, though unchanged in this filing.

Insights

Financial Analyst

TL;DR: Director acquired 10k shares via RSU vesting, gained 9,017 new RSUs; no sales—signal neutral-to-slightly positive, financially immaterial.

The transaction converts time-based compensation into equity, increasing direct ownership from 0 to 10,000 shares. A fresh 9,017-unit grant extends alignment through 2026. Cashless settlement and zero sales suggest no liquidity concerns. However, 10k shares equal <1% of Mariposa’s 18.9 m stake, so market impact or dilution is negligible. Overall corporate fundamentals remain unchanged.

Corporate Governance Expert

TL;DR: Routine insider grant/vesting; reinforces board-level alignment but lacks material governance or control implications.

Lillie’s indirect interest via Mariposa already provides meaningful exposure; this Form 4 merely documents standard compensation mechanics. Disclosure is complete—Rule 10b5-1 checkbox unchecked, so trades are outside a pre-planned program. No red flags on timing or volume, and preferred-to-common convertibility terms remain unchanged. Impact for investors: largely informational.

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^*

Smith Lyndon John

(Last) (First) (Middle)

C/O HEXCEL CORPORATION

281 TRESSER BLVD.

(Street)

STAMFORD CT 06901

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HEXCEL CORP /DE/ [ HXL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	see remarks

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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

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
Restricted Stock Units	(1)	07/29/2025		A		662		(2)	(2)	Common Stock	662	$0	662	D
Non-Qualified Stock Options	$61.36	07/29/2025		A		1,676		(3)	07/29/2035	Common Stock	1,676	$0	1,676	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a conditional right to receive one share of common stock of the issuer.

2. The RSU's vest and convert into an equivalent number of shares of common stock of the issuer in equal increments on the first three anniversaries of the grant date.

3. The non-qualified stock options vest in equal increments on the first three anniversaries of the grant date.

Remarks:

President, Americas & Global Fibers

	/s/ Lauren Shumejda, as attorney-in-fact for Lyndon J. Smith	08/01/2025
	** 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

How many Acuren (TIC) shares did James E. Lillie acquire?

He received 10,000 common shares upon RSU settlement on 30-Jul-2025.

Were any Acuren shares sold in this Form 4?

No, no shares were sold; only grants and conversions were reported.

What new equity award did the director receive?

On 31-Jul-2025 he was granted 9,017 restricted stock units that vest on 31-Jul-2026.

How large is Lillie’s indirect stake via Mariposa Acquisition IX, LLC?

His pecuniary interest is 1,746,169 common shares plus 92,500 shares issuable from convertible preferred stock.

Does the Series A Preferred Stock convert automatically?

Yes, it converts 1-for-1 into common either at holder election or automatically by 31-Dec-2034 or a defined change-of-control event.