Form 4: Brink's Director Michael Herling Increases Stake Through Dividend Reinvestment Plan

Brink's Co. Director Michael J. Herling has increased his beneficial ownership in the company by acquiring additional DSAP Units through a routine dividend payment, reflecting continued participation in the Directors' Stock Accumulation Plan.

Summary

• Michael J. Herling, a Director of The Brink's Company (BCO), acquired 18.09 DSAP Units on June 2, 2025.
• These units were credited to his account as a result of a dividend payment on BCO common stock, in accordance with the terms of the Directors' Stock Accumulation Plan (DSAP).
• The acquisition was based on a share price of $82.14, which was the closing price of BCO common stock on the transaction date.
• Following this transaction, Mr. Herling beneficially owns a total of 5,962.05 DSAP Units.
• Each DSAP Unit is the economic equivalent of one share of BCO common stock, and the Reporting Person will receive a one-for-one distribution in BCO common stock upon termination of service as a director.

Sentiment

Score: 6

Explanation: Slightly positive, as it indicates a director's continued accumulation of company equity, aligning their interests with shareholders, even if it's a non-discretionary dividend reinvestment.

Positives

• The acquisition of additional DSAP Units by a director, even through a dividend, indicates continued alignment of management interests with shareholder interests.
• Participation in the Directors' Stock Accumulation Plan (DSAP) demonstrates a long-term commitment by the director to the company's equity.

Future Outlook

The document does not provide forward-looking statements or guidance beyond the mechanism of the DSAP, which states that units will be distributed as common stock upon the director's termination of service.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically a director's acquisition of equity units through a dividend reinvestment plan. It does not provide broader industry context or trends, but rather reflects standard corporate governance practices related to director compensation and equity alignment within the security services and logistics industry.

Corporate Governance

Related Party Transactions

• The acquisition of DSAP Units by Director Michael J. Herling is a transaction between an insider (related party) and the company, conducted under the terms of a pre-approved Directors' Stock Accumulation Plan.

Stakeholder Impact

• Shareholders: The transaction demonstrates a director's continued equity stake, potentially signaling confidence in the company's long-term prospects and aligning director interests with shareholder returns.
• Employees: No direct impact mentioned.

Next Steps

• The Reporting Person will be entitled to receive a distribution of The Brink's Company common stock on a one-for-one basis for all DSAP Units following the termination of service as a director.

Key Dates

Keywords

Brink's Co., BCO, SEC Form 4, Insider Transaction, Director Stock Accumulation Plan, DSAP, Dividend Reinvestment, Beneficial Ownership, Corporate Governance, Michael J. Herling