Meister Keith A. 4

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.