WAT Form 4: 3,761 options at $130.35; 1,318 shares withheld

Rhea-AI Filing Summary

Waters Corporation (WAT) director Christopher Kuebler exercised stock options for 3,761 shares at $130.35 on November 5, 2025. The issuer withheld 1,318 shares at $371.97 to cover the exercise price; this was not a sale. After the transactions, he directly owned 17,478 shares.

The exercised option was granted on January 4, 2017 and was set to expire on January 4, 2026, and now has zero remaining.

Insider Trade Summary

3,761 shares exercised/converted

Mixed 3 txns

Insider KUEBLER CHRISTOPHER A

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	3,761	$0.00	--
Exercise	Common Stock	3,761	$130.35	$490K
Tax Withholding	Common Stock	1,318	$371.97	$490K

Holdings After Transaction: Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 18,796 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

KUEBLER CHRISTOPHER A

(Last) (First) (Middle)

34 MAPLE STREET

(Street)

MILFORD MA 01757

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WATERS CORP /DE/ [ WAT ]

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)
11/05/2025

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	11/05/2025		M		3,761	A	$130.35	18,796	D
Common Stock	11/05/2025		F(1)		1,318	D	$371.97	17,478	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
Stock Option (Right to Buy)	$130.35	11/05/2025		M			3,761	01/04/2017	01/04/2026	Common Stock	3,761	$0	0	D

Explanation of Responses:

1. The reported transaction is not a sale but represents the withholding of shares by the Issuer to cover payment of the exercise price in connection with the reported exercise of a stock option by the Reporting Person prior to the expiration of such stock option.

	/s/ Michael Lynn, attorney-in-fact for Christopher Kuebler	11/07/2025
	** 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 did Waters (WAT) disclose in this Form 4?

Director Christopher Kuebler exercised options for 3,761 shares at $130.35 on November 5, 2025.

Were any shares sold by the insider in WAT?

No. 1,318 shares were withheld by the issuer at $371.97 to cover the exercise price; this is not a sale.

How many WAT shares does the insider own after the transaction?

He directly owned 17,478 shares following the reported transactions.

What were the terms of the exercised option?

It covered 3,761 shares at an exercise price of $130.35, granted on 01/04/2017 and expiring on 01/04/2026.

Is this transaction under a Rule 10b5-1 plan?

The form includes a 10b5-1 checkbox reference, but no selection is indicated in the provided excerpt.

What transaction codes were used in the filing?

Code M for option exercise and code F for issuer share withholding related to the exercise.