GIAMATTEO JOHN JOSEPH 4

What Happened

• John Giammatteo, CEO & President (Secure Communications) and director of BlackBerry Limited, had 66,372 contingent units/derivatives convert on April 2, 2026 (reported as an exercise/conversion). On the same date he sold 27,066 shares in the open market at a weighted average price of $3.56 for total proceeds of $96,355.
• The filing also reports a derivative disposition related to the 66,372-unit conversion. The transaction appears to be a routine vesting/conversion of award units with a sale to cover tax withholding rather than a discretionary, market-timed sale.

Key Details

• Transaction date: April 2, 2026; Form 4 filed April 7, 2026 (see timeliness note below).
• Open-market sale: 27,066 shares at a weighted average price of $3.56 (range $3.56–$3.57), proceeds $96,355 (footnote F3).
• Conversion/exercise: 66,372 units converted/exercised (reported as derivative transactions, footnotes F1 and F4).
• Purpose of sale: Sales to cover withholding taxes on RSU vesting (footnote F2).
• Award details: The underlying award was granted April 2, 2025 and vests in 12 equal quarterly installments through April 2, 2028 (footnote F4).
• Shares owned after the transaction: Not specified in the filing.

Context

• This appears to be a standard vesting/conversion of contingent RSU-like units with a partial sale to cover taxes (a common, routine procedure), not necessarily a signal of confidence or lack thereof.
• The conversion and immediate/simultaneous sale of some shares is similar to a cashless exercise/tax-withholding sale. The material proceeds here are modest (~$96k), so this is not a large insider sale relative to many executive transactions.
• Note on timeliness: the Form 4 was filed five days after the April 2 transaction (filed April 7); Form 4s are generally due within two business days, so investors may wish to check the filing for any late-filing designation or company commentary.