Trinity Industries (NYSE: TRN) director adds 1,280 phantom stock units

Rhea-AI Filing Summary

Trinity Industries director reports additional deferred equity units

Todd Maclin, a director of Trinity Industries, Inc., reported an acquisition of 1,280 Trinity Phantom Stock Units on 12/31/2025 under the company’s Deferred Plan for Directors Fees. Each phantom stock unit is linked to one share of Trinity common stock on a 1-for-1 basis. Following this transaction, Maclin beneficially owns 24,453 Trinity Phantom Stock Units in direct form. The filing notes that the account tied to these units will be settled in cash after the reporting person’s retirement, rather than through delivery of company shares.

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^*

MACLIN TODD

(Last) (First) (Middle)

14221 N. DALLAS PARKWAY

SUITE 1100

(Street)

DALLAS TX 75254

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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
Trinity Phantom Stock Units	$0	12/31/2025		A		1,280		(1)	(1)	Common Stock	1,280	$26.44	24,453	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	01/05/2026
	** 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.

FAQ

What insider transaction did Trinity Industries (TRN) report in this Form 4?

The filing reports that director Todd Maclin acquired 1,280 Trinity Phantom Stock Units on 12/31/2025 under the Trinity Industries, Inc. Deferred Plan for Directors Fees.

What are Trinity Phantom Stock Units for Trinity Industries (TRN)?

Trinity Phantom Stock Units are deferred compensation units accrued under the Deferred Plan for Directors Fees. They are converted at a 1-for-1 rate, meaning one phantom stock unit corresponds to one share of Trinity common stock for value measurement.

How and when are Trinity Industries (TRN) phantom stock units settled for the director?

The filing states that the account tied to the Trinity Phantom Stock Units will be settled in cash after the reporting person’s retirement, rather than through delivery of common shares.

How many Trinity Industries phantom stock units does the director own after this transaction?

After acquiring 1,280 additional units, director Todd Maclin beneficially owns 24,453 Trinity Phantom Stock Units, held in direct form according to the report.

What is the relationship of the reporting person to Trinity Industries (TRN)?

The reporting person, Todd Maclin, is identified in the filing as a Director of Trinity Industries, Inc., and the form is indicated as filed by one reporting person.

What security underlies the Trinity Industries Phantom Stock Units in this Form 4?

The Trinity Phantom Stock Units are linked to Trinity common stock, with 1,280 units corresponding to 1,280 shares of common stock for valuation purposes, based on the 1-for-1 conversion rate described.