Brown Rafeal E. 4

What Happened

• Rafeal E. Brown, Chief Financial Officer of Rapid7, Inc. (RPD), received a grant of 275,000 performance stock units (PSUs) on March 31, 2026. The Form 4 reports the acquisition as a derivative award at $0.00 per unit (recorded value $0) because these are contingent PSUs, not immediate shares or a cash payment.
• This award is a grant—neither a market purchase nor a sale—and does not indicate an immediate change in tradable shares. The PSUs convert to common stock only if performance and service conditions are met.

Key Details

• Transaction date: 2026-03-31; Filing date / Form 4 accession: 2026-04-01 (timely filing).
• Instrument and amount: 275,000 performance stock units (PSUs); reported acquisition price $0.00 (derivative award).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes: F1 — each PSU is a contingent right to receive one share of common stock if vested. F2 — PSUs vest only if specified stock-price thresholds are met over a three-year performance period and subject to continued employment (with certain good-leaver exceptions). The grant shown is the target amount; actual payout may range from 0% to 150% of target (i.e., 0 to 412,500 shares).
• Transaction code: A = Award/Grant.

Context

• PSUs are performance-based long-term incentives. They do not represent immediately owned, marketable shares and have value only if the company meets the performance targets and the executive remains eligible at vesting.
• As an award (not a purchase or sale), this grant is standard executive compensation and should be interpreted as part of long-term incentive pay rather than an immediate bullish or bearish trading signal.