Form 4: RB Global Legal Officer Acquires Dividend Equivalent Rights

RB Global's Chief Legal Officer, Darren Jeffrey Watt, reported the acquisition of dividend equivalent rights tied to restricted and performance share units.

Summary

• Darren Jeffrey Watt, Chief Legal Officer of RB GLOBAL INC. (RBA), reported the acquisition of Dividend Equivalent Rights (DERs).
• The transactions occurred on March 2, 2026.
• Acquired 3 Dividend Equivalent Rights related to 2023 Restricted Share Units (RSUs), representing 3 common shares.
• Acquired 4 Dividend Equivalent Rights related to 2024 RSUs, representing 4 common shares.
• Acquired 6 Dividend Equivalent Rights related to 2025 RSUs, representing 6 common shares.
• Acquired 35 Dividend Equivalent Rights related to 2023 Performance Share Units (PSUs), representing 35 common shares.
• Each DER represents a contingent right to receive the economic equivalent of one RBA common share.
• The DERs become exercisable proportionately with the underlying RSUs and PSUs to which they relate.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as it reflects standard executive compensation practices that align management's financial incentives with long-term shareholder value creation.

Positives

• The acquisition of dividend equivalent rights aligns the Chief Legal Officer's interests with those of shareholders, as the value of these rights is tied to the company's common shares.
• This transaction is part of a standard executive compensation structure, indicating ongoing commitment from key management.

Future Outlook

The dividend equivalent rights will become exercisable proportionately with the underlying restricted share units and performance share units to which they relate, indicating future vesting events for these equity awards.

Industry Context

StockSavvy.ai notes that the reporting of dividend equivalent rights is a standard practice for executive compensation, particularly for companies that issue restricted stock units (RSUs) and performance stock units (PSUs). This mechanism ensures that executives receive the economic benefit of dividends on their unvested equity awards, further aligning their long-term interests with shareholder returns.

Comparison to Industry Standards

• The use of Dividend Equivalent Rights (DERs) in conjunction with RSUs and PSUs is a common practice in executive compensation across various industries, including industrial services and equipment sectors where RB Global operates.
• Companies like Ritchie Bros. Auctioneers (now RB Global) often utilize such equity-based incentives to retain talent and motivate performance, similar to peers such as IAA, Inc. (now part of Ritchie Bros.) or other large industrial auctioneers and equipment marketplaces.

Stakeholder Impact

• Shareholders: The transaction aligns the Chief Legal Officer's financial interests with shareholder returns, as the value of the DERs is tied to the company's common shares.
• Employees: This reflects standard executive compensation practices, which can influence overall employee incentive structures.

Next Steps

• The dividend equivalent rights will become exercisable in line with the vesting schedules of the related 2023, 2024, and 2025 RSUs and 2023 PSUs.

Key Dates

Keywords

RB Global, RBA, Dividend Equivalent Rights, Restricted Share Units, Performance Share Units, Insider Transaction, Executive Compensation, SEC Form 4