Trinity Industries (NYSE: TRN) director granted 1,006 phantom stock units as deferred pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

MACLIN TODD reported acquisition or exercise transactions in this Form 4 filing.

Trinity Industries director Todd Maclin received a grant of 1,006 Trinity Phantom Stock Units, each valued at $34.58, as part of director compensation. These awards accrue under the Trinity Industries Deferred Plan for Directors Fees and are tied 1-for-1 to Trinity common stock for value.

Following this grant, Maclin holds 26,529 phantom stock units. The units do not represent actual shares and will be settled in cash after his retirement, giving him economic exposure to the stock’s performance without current share ownership or voting rights.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MACLIN TODD

Role null

Type	Security	Shares	Price	Value
Grant/Award	Trinity Phantom Stock Units	1,006	$34.58	$35K

Holdings After Transaction: Trinity Phantom Stock Units — 26,529 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Phantom stock units granted: 1,006 units Grant value per unit: $34.58 per unit Total phantom units after grant: 26,529 units +1 more

4 metrics

Phantom stock units granted 1,006 units Grant of Trinity Phantom Stock Units on 2026-06-30

Grant value per unit $34.58 per unit Valuation used for the 1,006-unit phantom stock award

Total phantom units after grant 26,529 units Todd Maclin’s Trinity Phantom Stock Units following the award

Conversion rate 1-for-1 Each phantom unit tracks one share of Trinity common stock for value

Key Terms

Trinity Phantom Stock Units, Deferred Plan for Directors Fees, stock units, settlement of the account will be in cash

4 terms

Trinity Phantom Stock Units financial

"The Trinity Phantom Stock Units were accrued under the Trinity Industries, Inc. Deferred Plan for Directors Fees."

Deferred Plan for Directors Fees financial

"The Trinity Phantom Stock Units were accrued under the Trinity Industries, Inc. Deferred Plan for Directors Fees."

stock units financial

"Stock units are converted at "1 - for - 1" (a rate of one stock unit per one share of Trinity common stock)."

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

settlement of the account will be in cash financial

"Settlement of the account will be in cash after the reporting person's retirement."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:15 PM Accepted by SEC EDGAR 07/02/2026 - 04:15 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^*

MACLIN TODD

(Last)

(First)

(Middle)

14221 N. DALLAS PARKWAY

SUITE 1100

(Street)

DALLAS

TEXAS

75254

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TRINITY INDUSTRIES INC [ NYSE/TRN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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)

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)
Trinity Phantom Stock Units	$0	06/30/2026		A		1,006		⁽¹⁾	⁽¹⁾	Common Stock	1,006	$34.58	26,529	D

Explanation of Responses:

1. The Trinity Phantom Stock Units were accrued under the Trinity Industries, Inc. Deferred Plan for Directors Fees. Stock units are converted at "1 - for - 1" (a rate of one stock unit per one share of Trinity common stock). Settlement of the account will be in cash after the reporting person's retirement.

Remarks:

	Phillip M. Kim For: Todd Maclin	07/02/2026
	** 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 did Trinity Industries (TRN) director Todd Maclin report in this Form 4?

Todd Maclin reported receiving 1,006 Trinity Phantom Stock Units valued at $34.58 each. These units are part of the Deferred Plan for Directors Fees and provide cash-settled economic exposure to Trinity common stock rather than immediate share ownership.

How many Trinity Phantom Stock Units does Todd Maclin hold after this transaction?

After the transaction, Todd Maclin holds a total of 26,529 Trinity Phantom Stock Units. This figure reflects the new 1,006-unit grant added to his prior deferred balance under Trinity Industries’ Deferred Plan for Directors Fees for board members.

How are Trinity Phantom Stock Units linked to Trinity Industries (TRN) common stock?

Each Trinity Phantom Stock Unit is converted at a 1-for-1 rate to Trinity common stock for value calculation. While they mirror the stock price economically, they are not actual shares and instead are settled in cash at a later date for the reporting person.

When will Todd Maclin’s Trinity Phantom Stock Units be settled?

The phantom stock units will be settled in cash after Todd Maclin’s retirement. Until then, they remain bookkeeping entries in the Deferred Plan for Directors Fees, tracking the value of Trinity Industries common stock on a one-to-one basis for payout purposes.

Do Trinity Phantom Stock Units give voting rights in Trinity Industries (TRN)?

The Trinity Phantom Stock Units do not provide voting rights because they are not actual shares. They are deferred compensation units whose value tracks Trinity Industries common stock and are paid in cash after retirement instead of granting direct stock ownership.

Is this Form 4 transaction a market purchase or sale of Trinity Industries stock?

No, this Form 4 reports a grant of 1,006 phantom stock units as compensation, not a market trade. The units are awarded under Trinity’s Deferred Plan for Directors Fees and will be settled in cash, rather than reflecting open-market buying or selling of common shares.