Donald R. Smith Jr., SVP, CFO and Treasurer of Murphy USA Inc., filed a Form 4 on November 3, 2026, disclosing a stock option exercise and two related share transactions in Murphy USA common stock dated November 2, 2026.

Key Highlights

  • Option exercise: Smith exercised a stock option for 2,000 shares of Murphy USA common stock at an exercise price of $126, acquiring them at $0 cost under transaction code M.
  • Shares withheld for taxes and exercise price: 1,130 shares were withheld by the company at $534.95 per share (the closing price on October 30, 2026) to cover the exercise price and applicable taxes, under transaction code F.
  • Open-market sale: Smith disposed of 1,460 shares at $515.65 per share under transaction code S on November 2, 2026.
  • Remaining direct ownership: Following all three transactions, Smith directly held 21,227.207 shares of common stock.
  • Indirect holdings: Smith also holds 562.832 shares indirectly as trustee of the company thrift plan, including 0.74 shares acquired through his 401(k) plan per a plan statement dated November 3, 2026.
  • Option origin: The exercised option was granted under Murphy USA's 2013 Long-term Incentive Plan and vests in two equal installments, the first half two years after the grant date and the final half three years after the grant date.

Details of Smith's November 2026 Option Exercise and Share Transactions at Murphy USA

According to the Form 4 filed with the SEC on November 3, 2026, Donald R. Smith Jr., serving as SVP, CFO and Treasurer of Murphy USA Inc. (NYSE:MUSA), executed three transactions in the company's common stock on November 2, 2026. The filing discloses that Smith exercised a stock option covering 2,000 shares, originally granted under the 2013 Long-term Incentive Plan at an exercise price of $126 per share, acquiring those shares at $0 as part of a net exercise arrangement.

As part of that net exercise, the filing states that 1,130 shares were withheld by the company for payment of the exercise price and applicable taxes, using the closing price on October 30, 2026 of $534.95. Separately, Smith disposed of 1,460 shares at $515.65 per share in an open-market sale. After all three transactions, Smith's direct beneficial ownership stood at 21,227.207 shares, according to the filing.

The filing also reports that the exercised stock option, which had an expiration date of February 10, 2028, carried zero remaining derivative securities after the exercise. Smith's indirect holdings through the company thrift plan totaled 562.832 shares, as reported based on a plan statement dated November 3, 2026. The Form 4 was signed by Gregory L. Smith as attorney-in-fact on November 3, 2026.

What Was Disclosed

The filing reports that Murphy USA's CFO exercised 2,000 stock options on November 2, 2026, with 1,130 shares withheld for costs and taxes, 1,460 shares sold at $515.65, and a resulting direct holding of 21,227.207 shares.