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Murphy USA (NYSE: MUSA) CEO exercises 9,200 options, has shares withheld for taxes

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Murphy USA Inc. President & CEO Malynda K. West reported an option exercise and share withholding. On January 15, 2026, West exercised 9,200 stock options at an exercise price of $106.72 per share, receiving 9,200 shares of common stock. On the same date, 5,233 shares of common stock were withheld by the company to cover the option exercise price and applicable taxes, using a closing price of $444.63 as described in the footnotes. After these transactions, West directly owned 121,355.642 shares of Murphy USA common stock and indirectly held 874.192 shares through a 401(k) plan. The filing notes that the option exercise was carried out under a Rule 10b5-1 trading plan adopted on August 12, 2025.

Positive

  • None.

Negative

  • None.
Insider West Malynda K
Role President & CEO
Type Security Shares Price Value
Exercise Stock Option 9,200 $0.00 --
Exercise Common Stock 9,200 $106.72 $982K
Tax Withholding Common Stock 5,233 $444.63 $2.33M
holding Common Stock -- -- --
Holdings After Transaction: Stock Option — 0 shares (Direct); Common Stock — 126,588.642 shares (Direct); Common Stock — 874.192 shares (Indirect, 401(k) Plan)
Footnotes (1)
  1. The option exercise reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 12, 2025. Represents a net exercise of outstanding stock options. These shares were withheld by the Company for payment of the exercise price and applicable taxes, using the closing price on January 14, 2025 of $444.63. Includes .899 shares acquired through the reporting person's 401(k) Plan. The information in this report is based on a plan statement dated January 20, 2026. Award granted under the 2013 Long-term incentive Plan. The option vests in two equal installments, the first half two years after the grant date and the final half three years after the grant date.
Form 4 Insider Transactions: What Each Field Means →
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).
X
 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*
West Malynda K
(Last) (First) (Middle)
200 PEACH STREET
(Street)
EL DORADO AR 71730
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Murphy USA Inc. [ MUSA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026
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
Common Stock 01/15/2026 M(1) 9,200 A $106.72 126,588.642 D
Common Stock 01/15/2026 F(2) 5,233 D $444.63 121,355.642 D
Common Stock 874.192(3) I 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option(4) $106.72 01/15/2026 M(1) 9,200 (5) 02/05/2027 Common Stock 9,200 $0 0 D
Explanation of Responses:
1. The option exercise reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 12, 2025.
2. Represents a net exercise of outstanding stock options. These shares were withheld by the Company for payment of the exercise price and applicable taxes, using the closing price on January 14, 2025 of $444.63.
3. Includes .899 shares acquired through the reporting person's 401(k) Plan. The information in this report is based on a plan statement dated January 20, 2026.
4. Award granted under the 2013 Long-term incentive Plan.
5. The option vests in two equal installments, the first half two years after the grant date and the final half three years after the grant date.
/s/ Gregory L. Smith, attorney-in-fact 01/20/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Murphy USA (MUSA) report for its CEO?

The filing shows that President & CEO Malynda K. West exercised 9,200 stock options for Murphy USA common stock and had a portion of the resulting shares withheld to cover the exercise price and taxes.

How many Murphy USA (MUSA) options did the CEO exercise and at what price?

West exercised 9,200 stock options at an exercise price of $106.72 per share, converting them into an equal number of Murphy USA common shares.

How many Murphy USA (MUSA) shares were withheld for taxes and exercise cost?

The filing reports that 5,233 shares of Murphy USA common stock were disposed of with transaction code F, representing shares withheld by the company to pay the option exercise price and applicable taxes at a reference price of $444.63 per share.

What are the CEO’s Murphy USA (MUSA) share holdings after these transactions?

Following the reported transactions, West directly owned 121,355.642 shares of Murphy USA common stock and indirectly held 874.192 shares through a 401(k) plan.

Was the Murphy USA (MUSA) CEO’s option exercise under a Rule 10b5-1 plan?

Yes. A footnote states that the option exercise was effected pursuant to a Rule 10b5-1 trading plan adopted by West on August 12, 2025.

What plan governed the stock option award for Murphy USA (MUSA) CEO?

The stock option was granted under Murphy USA’s 2013 Long-term Incentive Plan, and the option vested in two equal installments, two and three years after the grant date.