GIAMATTEO JOHN JOSEPH 4

What Happened

• John Giamatteo, CEO & President, Secure Communications and a director of BlackBerry Limited, exercised 66,372 contingent units (derivative award) on July 2, 2026 and sold 28,272 common shares in an open-market transaction the same day. The reported weighted-average sale price was $11.22, producing proceeds of $317,212. Footnotes indicate the sale was to cover withholding taxes on vested RSUs and that each unit represents a contingent right to one share or cash at BlackBerry’s discretion.

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 6, 2026 (filed 4 days after the transaction; Form 4s are generally due within two business days).
• Shares sold: 28,272 shares; weighted-average price $11.22; price range reported $11.15–$11.40 (footnote F3).
• Derivative activity: 66,372 units exercised/converted (footnote F1); a corresponding derivative disposition is reported (cashless/settlement activity).
• Reason for sale: sales to cover withholding taxes upon vesting of RSUs (footnote F2).
• Shares owned after transaction: not disclosed in the filing.

Context

• This appears to be a routine tax-withholding sale tied to the vesting/settlement of RSU-type awards rather than a discretionary, market-timed sale. The award was originally granted April 2, 2025 and vests in 12 quarterly installments through April 2, 2028 (footnote F4). For derivative exercises like this, it’s common for insiders to sell some shares immediately to satisfy taxes (a cashless or sell-to-cover action).