Foote Tim 4

What Happened

• Tim Foote, Chief Financial Officer of BlackBerry Limited, reported multiple transactions on 2026-07-02. He sold a total of 25,878 shares in open-market transactions (22,812 at a $12.55 weighted average; 3,066 at an $11.22 weighted average) for aggregate proceeds of about $320,692. The filing also shows the exercise/conversion of 7,375 derivative units (and a corresponding derivative disposition of 7,375 units) on the same date.
• These transactions appear to be related to vesting and routine tax-withholding rather than a discretionary large sell-off (see footnotes below).

Key Details

• Transaction date: 2026-07-02; Form filed: 2026-07-06 (filed within the normal Form 4 reporting window).
• Sales: 22,812 shares at a weighted avg ~$12.55 (prices ranged $12.55–$12.58 per filing footnote); 3,066 shares at a weighted avg ~$11.22 (prices ranged $11.15–$11.40).
• Total reported proceeds from the open-market sales: ~$320,692.
• Derivative activity: 7,375 units exercised/converted (reported as "M"); the filing also reports a derivative disposition of 7,375 units.
• Shares owned after the transactions: not stated in the provided filing details.
• Notable footnotes:
  • F1/F4: Reported prices are weighted averages; shares sold across multiple prices within the stated ranges.
  • F2: Each unit represents a contingent right to receive one common share or cash at BlackBerry’s discretion.
  • F3: Sales were to cover withholding taxes upon vesting of RSUs.
  • F5: The award granting the units was issued April 2, 2025 and vests in quarterly installments through April 2, 2028.

Context

• The filing indicates vesting-related activity: units converted/exercised and shares sold to cover withholding taxes — a common, routine practice when RSUs vest. For retail investors, such sales typically reflect tax-related liquidity rather than a strong buy/sell signal by the insider.
• No late filing flag was indicated; the Form 4 was submitted on 2026-07-06 for a 2026-07-02 transaction.