4/A: Linde PLC: Executive Stock Transaction Update

Linde PLC executive Binod Patwari amends prior Form 4 filing to accurately reflect the payout of performance and restricted stock units.

Summary

• This filing is an amendment to a previous Form 4, correcting inaccuracies regarding the number of Linde PLC ordinary shares paid out from performance share unit (PSU) and restricted stock unit (RSU) grants.
• The original filing incorrectly stated that shares were withheld for taxes; this amendment clarifies that no shares were withheld.
• Binod Patwari, Senior Vice President - APAC, received payouts from PSU and RSU grants made on March 7, 2023.
• The PSU payouts were based on Linde PLC's average annual return on capital (ROC) and relative total shareholder return (RTSR) from 2023-2025.
• Restricted Stock Units (RSUs) vested and paid out on a one-for-one basis.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, as it corrects an error and confirms the full payout of executive stock awards, but the initial error warrants a minor deduction.

Positives

• Accurate reporting of stock payouts ensures transparency for investors.
• The amendment clarifies that no shares were withheld for taxes, meaning the executive received the full payout.
• Performance Share Units (PSUs) were paid out, indicating that performance targets related to Return on Capital (ROC) and Relative Total Shareholder Return (RTSR) were met or exceeded for the 2023-2025 period.

Negatives

• The initial filing contained errors, requiring an amendment, which could suggest a lapse in internal controls or attention to detail.
• The amendment corrects an overstatement of shares withheld for taxes, which, if it had been true, would have reduced the executive's net received shares.

Risks

• Potential for continued inaccuracies in reporting if internal processes are not robust.
• The performance metrics (ROC and RTSR) are subject to market fluctuations and competitive pressures, which could impact future payouts.

Future Outlook

The filing does not contain forward-looking statements or guidance. It is a report of past transactions.

Management Comments

• The purpose of this Form 4 amendment is to amend and entirely restate the Form 4 filed on March 11, 2026 (the "Original Form 4").
• The Original Form 4 incorrectly reported in Table 1 that 121, 43 and 43 Ordinary Shares were withheld for taxes from the payouts of two Performance Share Unit ("PSU") grants, and one Restricted Stock Unit ("RSU") grant, each made on March 7, 2023.
• The Table 1 in this Form 4 Amendment now correctly reports that 548, 195 and 195 Ordinary Shares were paid out pursuant to the PSU and RSU grants made on March 7, 2023, and that no Ordinary Shares were withheld for taxes.

Industry Context

StockSavvy.ai notes that executive compensation tied to performance metrics like Return on Capital (ROC) and Total Shareholder Return (TSR) is a common practice in the industrial gases sector, aligning management interests with shareholder value creation.

Stakeholder Impact

• Shareholders: Increased transparency regarding executive compensation and the full realization of awarded shares.
• Employees: Reinforces the link between company performance and executive rewards, potentially motivating further performance.
• Management: Confirmation of received compensation, subject to performance metrics.

Next Steps

• Continued monitoring of executive stock transactions for any further changes or patterns.
• Review of Linde PLC's future financial performance against ROC and RTSR targets to assess the sustainability of such payouts.

Key Dates

Keywords

Linde PLC, Form 4, Stock Transaction, Executive Compensation, Performance Share Units, Restricted Stock Units, Binod Patwari, SEC Filing, Insider Trading, Shareholder Return