Abdel Raouf 4

What Happened

• Abdel Raouf, EVP, Global Operations at Equinix, exercised/converted derivative awards and received an award on Feb 17, 2026 (total acquired: 2,673 shares from exercises/conversions + 3,279 shares from an award = 5,952 shares acquired at $0). On Feb 18, 2026 he sold 1,169 shares in multiple open‑market transactions for aggregate proceeds of approximately $1,099,480 (~$1.10M).
• Sales prices ranged roughly from $932 to $948 per share (weighted average prices reported for groups of trades). The exercised/conversion transactions are reported as derivative exercises (code M) and the award as a grant/award (code A); the sales are open‑market sales (code S).

Key Details

• Transaction dates: exercises/conversion and award on 2026-02-17; open‑market sales on 2026-02-18. Form 4 filed 2026-02-19 (timely).
• Shares sold: 1,169 shares; proceeds ≈ $1,099,480. Prices ranged ~ $932.32 to $948.30 across multiple trades (weighted averages reported).
• Shares acquired: 2,673 shares (exercises/conversions) + 3,279 shares (award) acquired at $0.
• Shares owned after transaction: not specified in the excerpt of this filing.
• Notable footnotes: sales were made pursuant to a 10b5‑1 trading plan to raise funds to pay required withholding tax related to RSU vesting (F2). Several footnotes (F3–F11) note the reported prices are weighted averages across multiple executions. Footnotes F12–F15 describe performance RSU grant/vesting schedules relevant to these derivative awards.
• Transaction codes explained: M = exercise/conversion of derivative; A = award/grant; S = sale; F (in footnotes) references tax/withholding context.

Context

• This pattern (derivative conversion/award followed by immediate or next‑day sales) is consistent with vesting of restricted/performance stock units and selling a portion of shares to cover tax withholding (a cashless outcome), not necessarily an independent investment decision. The filing is informational and was made within the normal Form 4 filing window.