Snap-on Inc. reported an insider transaction by Richard Thomas Miller involving the company’s common stock on July 1, 2026. Miller exercised a fully vested employee stock option covering 2,000 shares at an exercise price of $155.92 per share. The filing states that the option exercise and the sale of the underlying shares were carried out under a Rule 10b5-1 trading plan adopted on March 11, 2026. The transaction was reported as an exercise of a Rule 16b-3 stock option, typically reflected on Form 4 with transaction code “M,” followed by the sale of the acquired shares, typically reported with transaction code “S.” The filing indicates that the 2,000 shares acquired through the option exercise were sold pursuant to the prearranged trading plan, which is designed to allow insiders to transact under predetermined instructions. The option involved was fully vested at the time of exercise. The explanatory notes also state that the original stock option grant vests in three annual installments beginning on the date listed in the filing’s exercisability column, though the specific grant date and remaining option details were not included in the provided text. Miller’s reported common stock ownership includes 2.2912 shares acquired through Snap-on’s dividend reinvestment plan. The filing also references other equity-based compensation arrangements, including restricted stock units that vest three years from the grant date, assuming continued employment, and performance units tied to company goals over the 2024–2026, 2025–2027 and 2026–2028 performance periods. For those performance units, the target number of units may be earned if goals are achieved, with a maximum payout of 200% of the target amount, subject to plan limits. The report was signed on Miller’s behalf by Ryan S. Lovitz under power of attorney. The filing reflects a planned liquidity transaction rather than an open-market discretionary trade, because the exercise and sale were conducted under the March 2026 Rule 10b5-1 plan.