[Form 4] STERIS plc Insider Trading Activity

Rhea-AI Filing Summary

Steris director Richard C. Breeden reported awards and grants dated 08/08/2025 in a Form 4 filing. The report shows the grant of 1,704 director stock options with an exercise price of $242.85 and an expiration date of 08/08/2035; the filing states these nonqualified stock options are fully vested and exercisable immediately. The filing also discloses 842 Career Restricted Stock Units (487 and 355 units) that are fully vested and will be settled in ordinary shares six months after the director ceases board service. Some awards were issued in lieu of fees ($25,000 for options and $86,000 for RSUs). Following the reported transactions, the reporting person beneficially owned 19,545 ordinary shares.

Insights

Corporate Governance Expert

TL;DR: Director received vested equity awards as compensation; disclosure appears routine with limited immediate governance implications.

The Form 4 discloses director compensation comprised of fully vested nonqualified stock options and Career Restricted Stock Units. The options carry a $242.85 exercise price and expire on 08/08/2035, and the filing explicitly states they are exercisable immediately. Career RSUs are vested now but will be settled in ordinary shares only six months after the director leaves board service, which preserves a retention element tied to continued service. Several awards were issued in lieu of cash fees, which is a common practice for board compensation. From a governance perspective, these are standard disclosures and do not indicate a change in control, related-party transaction beyond routine director pay, or material governance event.

Compensation Analyst

TL;DR: Grants combine immediate economic interest (exercisable options) with deferred settlement RSUs; treatment aligns with common director pay practices.

The filing breaks down awards into two director stock-option grants totaling 1,704 options and two Career RSU awards totaling 842 units. Footnotes clarify the origin of awards: certain options were issued in lieu of $25,000 in fees and certain RSUs in lieu of $86,000. The immediate vesting of options gives the director an enforceable economic right, while Career RSUs, though vested, are payable only after service ends, creating deferred share delivery. These features match conventional mix of immediate and deferred equity in director compensation; the filing does not present indications of unusually large or dilutive grants relative to standard board pay disclosures.

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

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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^*

Breeden Richard C

(Last) (First) (Middle)

C/O 70 SIR JOHN ROGERSON'S QUAY

(Street)

DUBLIN 2 L2 D02 R296

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STERIS plc [ STE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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
Director Stock Option (right to buy)	$242.85	08/08/2025		A		1,407		(1)	08/08/2035	Ordinary Shares	1,407	$0	1,407	D
Director Stock Option (right to buy)	$242.85(2)	08/08/2025		A		297		(1)	08/08/2035	Ordinary Shares	297	$84.2	1,704	D
Career Restricted Stock Units	(3)	08/08/2025		A		487		(4)	(4)	Ordinary Shares	487	$0	19,190	D
Career Restricted Stock Units	(3)	08/08/2025		A		355		(4)	(4)	Ordinary Shares	355	$242.85(5)	19,545	D

Explanation of Responses:

1. These nonqualified stock options are fully vested and are exercisable immediately.

2. These nonqualified stock options were issued to the Reporting Person in lieu of $25,000 in fees.

3. Each Career Restricted Stock Unit represents the right to receive one STERIS ordinary share six months after the cessation of the Director's Board service.

4. These Career Restricted Stock Units are fully vested immediately. They will be settled in STERIS ordinary shares six months after the cessation of the Director's Board service.

5. These Career Restricted Stock Units were issued to the Reporting Person in lieu of $86,000 in fees.

Remarks:

	/s/ John P. Ubbing, Authorized Representative under Power of Attorney	08/12/2025
	** 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).
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FAQ

What did the STERIS (STE) Form 4 filed by Richard C. Breeden report?

The Form 4 reports grants on 08/08/2025 of 1,704 director stock options and 842 Career Restricted Stock Units to Richard C. Breeden.

What are the terms of the stock options reported on the STE Form 4?

The nonqualified stock options have an exercise price of $242.85, are fully vested and exercisable immediately, and expire on 08/08/2035.

When will the Career Restricted Stock Units (RSUs) reported in the STE filing be settled?

Each Career RSU represents one ordinary share and, although fully vested, will be settled in shares six months after cessation of the director's board service.

Were any awards issued in lieu of cash fees according to the Form 4?

Yes. The filing states certain options were issued in lieu of $25,000 in fees and certain Career RSUs were issued in lieu of $86,000 in fees.

How many shares does the reporting person beneficially own after the reported transactions?

Following the reported transactions, the reporting person beneficially owned 19,545 ordinary shares according to the Form 4.

When was the Form 4 signed and who signed it?

The Form 4 includes a signature by John P. Ubbing, Authorized Representative dated 08/12/2025.