Wabtec CEO Rafael Santana Reports Multiple Open-Market Sales

Rhea-AI Filing Summary

Rafael Santana, President and CEO and director of Westinghouse Air Brake Technologies Corp (WAB), reported multiple open-market sales of common stock on 08/20/2025 and 08/21/2025. The Form 4 shows six separate sale entries executed under Codes S (sales) with weighted-average prices reported in footnotes, with per-share weighted averages ranging approximately from $191.16 to $193.91 and disclosed price ranges between about $190.80 and $193.93. The reported beneficial ownership decreased from 140,199 shares to 138,528, a net disposition of 1,671 shares. The filing indicates the trades were made pursuant to a 10b5-1 plan and provides commitments to furnish breakdowns of share counts at each price on request.

Positive

• Transactions were reported as executed under a 10b5-1 trading plan
• Filing includes weighted-average prices and price ranges with offer to provide per-price breakdowns
• Form 4 was filed and signed (POA), reflecting timely regulatory disclosure

Negative

• Reporting person disposed of a net of 1,671 shares, reducing beneficial ownership from 140,199 to 138,528
• Sales occurred at market prices in the range of approximately $190.80 to $193.93 per share

Insights

Financial Analyst

TL;DR: Insider sales reduced holdings by 1,671 shares under an explicit 10b5-1 plan; transaction sizes and prices are disclosed.

The transactions are routine open-market dispositions by the CEO and director, recorded on a Form 4. The filing lists six sale groups executed on 08/20/2025 and 08/21/2025 with weighted-average prices between roughly $191 and $194. The net reduction in beneficial ownership is modest (1,671 shares), and the disclosure of price ranges and willingness to provide per-price breakdowns increases transparency for investors assessing the trades.

Corporate Governance Expert

TL;DR: Proper procedural disclosure: sales flagged as under a 10b5-1 plan and Form 4 signed by a POA, indicating adherence to reporting protocols.

The report explicitly checks the 10b5-1 box and includes explanatory footnotes with weighted-average prices and ranges, which supports compliance with insider-trading disclosure norms. The Form 4 is signed by a power of attorney, and the filing includes the customary undertakings to provide more granular pricing information upon request. No indications of amendments or exceptions are present in the provided text.

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^*

Santana Rafael

(Last) (First) (Middle)

30 ISABELLA ST.

(Street)

PITTSBURGH PA 15212

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP [ WAB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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
Common Stock - Direct	08/20/2025		S		101	D	$191.1647(1)	140,199	D
Common Stock - Direct	08/20/2025		S		206	D	$192.334(2)	139,993	D
Common Stock - Direct	08/20/2025		S		555	D	$193.2743(3)	139,438	D
Common Stock - Direct	08/20/2025		S		24	D	$193.9067(4)	139,414	D
Common Stock - Direct	08/21/2025		S		568	D	$191.6061(5)	138,846	D
Common Stock - Direct	08/21/2025		S		318	D	$192.4358(6)	138,528	D

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $190.795 to $191.79 inclusive. The reporting person undertakes to provide Westinghouse Air Brake Technologies Corporation ("Wabtec"), any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $191.82 to $192.765 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $192.87 to $193.87 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (3) to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $193.88 to $193.93 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (4) to this Form 4.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $191.15 to $192.13 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (5) to this Form 4.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within $1.00 ranging from $192.16 to $192.78 inclusive. The reporting person undertakes to provide Wabtec, any security holder of Wabtec, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (6) to this Form 4.

Remarks:

	David L. DeNinno, POA for Rafael Santana	08/22/2025
	** 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).
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 activity did WAB (Westinghouse Air Brake Technologies) report?

The Form 4 shows CEO/director Rafael Santana sold shares on 08/20/2025 and 08/21/2025, reducing holdings from 140,199 to 138,528.

Were the sales by Rafael Santana part of a prearranged plan?

Yes, the filing indicates the transactions were made pursuant to a 10b5-1 plan (the 10b5-1 box is checked).

What price levels were reported for the insider sales?

Weighted-average prices reported range approximately from $191.16 to $193.91, with disclosed price ranges from about $190.795 to $193.93 across the footnotes.

How many shares did Rafael Santana sell in total according to the Form 4?

The Form 4 shows a net reduction of 1,671 shares of WAB common stock following the reported transactions.

Who signed the Form 4 for the reporting person?

The Form 4 is signed by David L. DeNinno, POA for Rafael Santana on 08/22/2025.