VIAVI (VIAV) CFO Ilan Daskal Exercises Awards, Sells Shares for Taxes

What Happened
Ilan Daskal, EVP and CFO of VIAVI Solutions (VIAV), converted/vested derivative awards into 102,534 shares and had 46,244 of those shares withheld by the company to cover tax withholding, generating proceeds of about $1.69 million. After withholding, he received a net of 56,290 shares. The filing also shows two grants/awards of 34,861 units each (69,722 units total) that are reported as derivative awards.

Key Details

• Transaction date: 2026-08-28; Form filed: 2026-08-31 (no late-filing flag noted in the provided data).
• Conversions/exercises: 55,114 and 47,420 units converted into shares (total 102,534).
• Tax withholding (shares surrendered/disposed): 24,857 and 21,387 shares at $36.54 each, totaling $908,275 and $781,481 (combined ~$1,689,756).
• Net shares delivered to insider after withholding: 56,290 (102,534 − 46,244).
• New grants reported: two awards of 34,861 units each (69,722 units); footnotes indicate units convert to one share upon vesting and vest annually in three equal installments. MSU details referenced in Exhibit 99 (FY27 MSU).
• Footnotes: units convert to shares on vesting; company retained shares to meet tax withholding and the retained amount was not in excess of the tax liability; no expiration dates on RSUs/MSUs per filing.
• Shares owned after the transactions were not provided in the excerpt supplied.

Context

• This is effectively a cashless withholding to satisfy tax obligations tied to vested awards: units converted into shares, then the company retained a portion to pay withholding taxes. Such withholding is administrative and common for executive equity vesting.
• The filing shows both the conversion (exercise/conversion of derivatives) and the awards (RSU/MSU grants) — the grants will vest per the stated schedule and are not immediate open-market purchases or sales.
• No implication about the CFO’s market sentiment should be assumed from routine vesting and tax-withholding actions.