Federal Register #SR-TXSE-2026-039

TXSE Rodeo II Restricted Stock Unit Incentive Program for Qualifying Issuers

The SEC notice describes TXSE’s Rodeo II equity incentive program for issuers considering a listing on the Texas Stock Exchange. - Government buyer and filing parties - The notice is from the Securities and Exchange Commission (SEC); Texas Stock Exchange LLC (TXSE) filed the proposed rule change, and the awards are in TXSE Group Inc. - Program offering - Each qualifying issuer may receive 100,000 restricted stock units (RSUs) in TXSE Group Inc. - The program initially covers up to 10 eligible issuers, with TXSE able to increase the limit to 15. - Eligibility and notable requirements - Issuers must transfer a primary listing to TXSE or add a dual listing and meet applicable listing, continued-listing, and documentation requirements. - Market capitalization must be at least $3.5 billion for a primary listing or $100 billion for a dual listing. Eligible entities include certain U.S.-domiciled corporations, master limited partnerships, and real estate investment trusts. - RSUs vest in two equal tranches, on the first and second anniversaries of the applicable listing, subject to continued listing. - This is a regulatory notice about an exchange incentive program, not a government procurement or contract award.

Description

Texas Stock Exchange LLC filed a proposed rule change to implement the Rodeo II restricted stock unit incentive program. The program would provide qualifying issuers that transfer their primary listing to, or dual list on, TXSE with 100,000 restricted stock units in TXSE Group, subject to eligibility requirements and continued listing standards. The units would vest in two tranches over two years, and the program is scheduled to begin October 7, 2026, ending when awards are allocated, on December 31, 2026, or earlier if terminated by the Exchange. The notice invites public comments on the proposed rule change.

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