Sunbelt Rentals (SUNB) EVP cash-settles 3,387 deferred stock units with no new shares

Rhea-AI Filing Summary

Sunbelt Rentals Holdings, Inc. executive Brad Lull, EVP, Strategy & Business Development, reported a restructuring-type transaction involving 3,387 Deferred Stock Units. These units were settled in cash at $76.53 per unit, based on the common stock closing price on April 30, 2026, under the company’s 2017 Deferred Bonus Plan. No shares of common stock were issued in connection with this settlement.

Insights

Equity compensation analyst

Cash-only settlement of deferred units with no share issuance.

Brad Lull’s Form 4 reports the cash settlement of 3,387 Deferred Stock Units tied to Sunbelt Rentals Holdings, Inc. common stock. The units were valued at $76.53 per unit, the closing price on April 30, 2026, under the 2017 Deferred Bonus Plan.

This is coded as an "other" restructuring transaction rather than a buy or sell, and the footnote states that no common shares were issued. Economically, this functions as cash compensation linked to prior equity awards, without creating dilution or signaling open-market trading activity.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lull Brad

Role EVP, Strategy & Business Dev

Type	Security	Shares	Price	Value
Other	Deferred Stock Units	3,387	$0.00	--

Holdings After Transaction: Deferred Stock Units — 0 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Deferred Stock Units settled: 3,387 units Settlement value per unit: $76.53 per unit Derivative transactions in filing: 1 derivative transaction +1 more

4 metrics

Deferred Stock Units settled 3,387 units Cash settlement of Deferred Stock Units reported by EVP Brad Lull

Settlement value per unit $76.53 per unit Closing price of common stock on April 30, 2026 used for DSU cash settlement

Derivative transactions in filing 1 derivative transaction Single reported transaction classified as restructuring involving Deferred Stock Units

Restructuring shares 3,387 Shares-equivalent underlying the Deferred Stock Units in the restructuring-type transaction

Key Terms

Deferred Stock Units, cash settlement, 2017 Deferred Bonus Plan

3 terms

Deferred Stock Units financial

"Represents cash settlement of deferred stock units at a value of $76.53 per unit"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

cash settlement financial

"Represents cash settlement of deferred stock units at a value of $76.53 per unit"

Cash settlement is a process where, instead of exchanging physical assets like stocks or commodities, the parties involved settle the difference in value with money after a contract ends. For investors, it simplifies transactions by avoiding the need to handle or deliver the actual asset, making it quicker and more convenient to complete trades. This method ensures a straightforward way to settle agreements based on their final value.

2017 Deferred Bonus Plan financial

"pursuant to the Issuer's 2017 Deferred Bonus Plan; no shares of common stock were issued"

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Available on EDGAR 07/10/2026 - 05:00 PM Accepted by SEC EDGAR 07/10/2026 - 05:00 PM Learn about SEC filing dates

FAQ

What transaction did SUNB executive Brad Lull report on this Form 4?

Brad Lull reported a restructuring-type transaction involving 3,387 Deferred Stock Units. These units were settled in cash under Sunbelt Rentals Holdings, Inc.’s 2017 Deferred Bonus Plan and did not involve an open-market stock purchase or sale.

Were any Sunbelt Rentals (SUNB) common shares issued in this Form 4 transaction?

No, no shares of common stock were issued. The Form 4 footnote explains the 3,387 Deferred Stock Units were settled in cash, so the company’s share count was unaffected by this event.

At what value were the SUNB Deferred Stock Units settled for Brad Lull?

The 3,387 Deferred Stock Units were settled at $76.53 per unit. This value equals the closing price of Sunbelt Rentals Holdings, Inc. common stock on April 30, 2026, as specified in the footnote.

What plan governed the SUNB deferred stock unit settlement for Brad Lull?

The cash settlement of Brad Lull’s 3,387 Deferred Stock Units was made under Sunbelt Rentals Holdings, Inc.’s 2017 Deferred Bonus Plan, which provides for deferred equity-based compensation to be settled according to its terms.

Does Brad Lull’s SUNB Form 4 indicate insider buying or selling of stock?

The filing does not show open-market buying or selling. It reports an "other" transaction where Deferred Stock Units were cash-settled, with no common shares issued, so it is compensation-related rather than a trading signal.

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^*

Lull Brad

(Last) (First) (Middle)

1799 INNOVATION PT

(Street)

FORT MILL SOUTH CAROLINA 29715

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Sunbelt Rentals Holdings, Inc. [ SUNB ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Strategy & Business Dev

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

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)
			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
Deferred Stock Units	(1)	07/10/2026		J			3,387	(1)	(1)	Common Stock	3,387	(1)	0	D

Explanation of Responses:

1. Represents cash settlement of deferred stock units at a value of $76.53 per unit, the closing price of the Issuer's common stock on April 30, 2026, pursuant to the Issuer's 2017 Deferred Bonus Plan; no shares of common stock were issued upon settlement.

	/s/ Gerald W. Clanton, Attorney-in-Fact	07/10/2026
	** 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)