Meister Keith A. 4
4 · ILLUMINA, INC. · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Illumina (ILMN) Director Keith Meister Exercises Options, Sells Shares
What Happened
- Keith A. Meister, a director of Illumina, reported exercising 24,562 in‑the‑money derivative shares at $102.82 ($2.53M cash paid) on May 28, 2026, and then selling large quantities of Illumina stock across May 28–29 and June 1, 2026.
- In total, the filing shows dispositions of about 694,158 shares with aggregate proceeds of roughly $110.9 million (individual sales ranged roughly $147.50–$165.50 per share). One item (24,562 shares) relates to the termination/settlement of equity swaps (see footnotes).
Key Details
- Transaction dates: May 28, 2026; May 29, 2026; June 1, 2026.
- Exercise: 24,562 shares exercised at $102.82 (cost ≈ $2.53M).
- Sales: ~694,158 shares sold across multiple trades; total proceeds ≈ $110.9M. Reported per‑share prices ranged roughly $147.50–$165.50 (many entries use weighted averages across price ranges; see footnotes F5–F21).
- Notable footnotes: F1/F2 — the shares are held for Corvex-managed funds (Corvex Management LP advises the funds; Meister controls Corvex’s general partner) and Meister disclaims beneficial ownership except for his pecuniary interest. F3/F4 — some activity reflects termination/settlement of equity swaps and related purchases; those swap terminations produced cash/payments and are treated as exempt under Rule 16b‑6(b).
- Filing timeliness: Report filed 2026-06-01 for transactions beginning 2026-05-28; the filing appears timely under Section 16(a) (within the applicable business-day window).
Context
- This sequence combined an in‑the‑money derivative exercise (acquisition) with large open‑market sales. When insiders exercise and immediately sell, it is often a cash‑raising or rebalancing action rather than a straightforward bullish signal; the filing’s footnotes show the trades were tied to Corvex funds and swap terminations, not necessarily personal long‑term purchases.
- Because these shares are held for private investment funds advised by Corvex (not direct personal holdings), the filing reflects institutional fund activity where Meister is an adviser/controller rather than purely individual insider trading.
Insider Transaction Report
Form 4
ILLUMINA, INC.ILMN
Meister Keith A.
Director
Transactions
- Exercise of In-MoneySwap
Common Stock
[F3][F4][F1][F2]2026-05-28$102.82/sh+24,562$2,525,465→ 3,524,610 total(indirect: See Footnotes) - OtherSwap
Common Stock
[F3][F4][F1][F2]2026-05-28$156.40/sh−24,562$3,841,497→ 3,500,048 total(indirect: See Footnotes) - Sale
Common Stock
[F5][F1][F2]2026-05-28$156.50/sh−37,590$5,882,835→ 3,462,458 total(indirect: See Footnotes) - Sale
Common Stock
[F6][F1][F2]2026-05-28$157.38/sh−71,986$11,329,157→ 3,390,472 total(indirect: See Footnotes) - Sale
Common Stock
[F7][F1][F2]2026-05-28$147.50/sh−110,424$16,287,540→ 3,280,048 total(indirect: See Footnotes) - Sale
Common Stock
[F8][F1][F2]2026-05-29$159.57/sh−11,760$1,876,543→ 3,268,288 total(indirect: See Footnotes) - Sale
Common Stock
[F9][F1][F2]2026-05-29$160.50/sh−4,579$734,930→ 3,263,709 total(indirect: See Footnotes) - Sale
Common Stock
[F10][F1][F2]2026-05-29$161.64/sh−5,256$849,580→ 3,258,453 total(indirect: See Footnotes) - Sale
Common Stock
[F11][F1][F2]2026-05-29$162.44/sh−2,225$361,429→ 3,256,228 total(indirect: See Footnotes) - Sale
Common Stock
[F12][F1][F2]2026-05-29$163.57/sh−19,832$3,243,920→ 3,236,396 total(indirect: See Footnotes) - Sale
Common Stock
[F13][F1][F2]2026-05-29$164.75/sh−6,888$1,134,798→ 3,229,508 total(indirect: See Footnotes) - Sale
Common Stock
[F14][F1][F2]2026-05-29$162.86/sh−63,020$10,263,437→ 3,166,488 total(indirect: See Footnotes) - Sale
Common Stock
[F15][F1][F2]2026-05-29$163.97/sh−6,198$1,016,286→ 3,160,290 total(indirect: See Footnotes) - Sale
Common Stock
[F16][F1][F2]2026-05-29$164.56/sh−92,877$15,283,839→ 3,067,413 total(indirect: See Footnotes) - Sale
Common Stock
[F17][F1][F2]2026-05-29$165.30/sh−1,961$324,153→ 3,065,452 total(indirect: See Footnotes) - Sale
Common Stock
[F18][F1][F2]2026-06-01$162.41/sh−70,262$11,411,251→ 2,995,190 total(indirect: See Footnotes) - Sale
Common Stock
[F19][F1][F2]2026-06-01$163.56/sh−61,613$10,077,422→ 2,933,577 total(indirect: See Footnotes) - Sale
Common Stock
[F20][F1][F2]2026-06-01$164.34/sh−87,653$14,404,894→ 2,845,924 total(indirect: See Footnotes) - Sale
Common Stock
[F21][F1][F2]2026-06-01$165.50/sh−15,472$2,560,616→ 2,830,452 total(indirect: See Footnotes) - Exercise of In-MoneySwap
Equity Swap (right to buy)
[F3][F4][F1][F2]2026-05-28−24,562→ 0 total(indirect: See Footnotes)Exercise: $102.82Exp: 2028-02-11→ Common Stock (24,562 underlying)
Holdings
- 6,638
Common Stock
Footnotes (21)
- [F1]These securities of Illumina, Inc. (the "Issuer") are held for the accounts of certain private investment funds (collectively, the "Corvex Funds") for which Corvex Management LP ("Corvex") acts as investment adviser, including Corvex Master Fund LP and Corvex Select Equity Master Fund LP. The general partner of Corvex is controlled by Keith Meister.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $161.05 to $162.03.
- [F11]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $162.05 to $162.98.
- [F12]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $163.13 to $164.09.
- [F13]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $164.14 to $165.09.
- [F14]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $162.19 to $163.16.
- [F15]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $163.19 to $164.18.
- [F16]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $164.19 to $165.18.
- [F17]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $165.20 to $165.43.
- [F18]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $162.00 to $162.99.
- [F19]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $163.00 to $163.99.
- [F2]For the purposes of this filing, each of Corvex and Mr. Meister disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Corvex or Mr. Meister is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.
- [F20]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $164.00 to $164.99.
- [F21]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $165.00 to $165.95.
- [F3]As previously reported, the Corvex Funds had entered into equity swaps that represented an aggregate economic long-side exposure comparable to a notional interest in 368,744 shares of common stock of the Issuer. Under the terms of the swaps, the value to be received or paid upon termination of a swap will be determined by the difference in the market price per notional share of common stock on the date of termination as compared to the cost of such notional share of common stock at the time of entry into the swap. On May 28, 2026, upon final termination of the swaps as reported in Table II above, the swaps counterparty paid to the Corvex Funds $3,841,496.80, representing $156.40 per share for each of the 24,562 notional shares subject to the termination (the market price of the common stock on the date of the partial termination), offset by $2,525,464.84, representing $102.82 for each of such 24,562 notional shares.
- [F4]The final termination of the equity swaps and the reported purchases of common stock in connection therewith are deemed exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-6(b) thereunder.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $155.85 to $156.84. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (5)-(21) to this Form 4.
- [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $156.85 to $157.84.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $157.85 to $158.77.
- [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $159.05 to $160.04.
- [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $160.05 to $161.03.
Signature
/s/ Keith Meister|2026-06-01