MORANDI BRANDI GALVIN 4

What Happened

• Brandi Morandi Galvin, Chief People Officer of Equinix (EQIX), exercised/converted derivative awards on Feb 17, 2026 and received additional shares, and then sold 1,648 shares in open-market transactions on Feb 18, 2026 for total proceeds of about $1.46 million.
• The filing shows exercises/conversions of derivatives (zero cash price) totaling 2,979 shares on Feb 17 and a separate grant/award of 3,027 shares reported the same day. On Feb 18 she sold 1,648 shares in multiple trades at prices that averaged roughly $926–$944 per share, generating approximately $1,464,240 in proceeds.
• These sales were reported as pursuant to a 10b5-1 trading plan to raise funds to pay required withholding tax related to RSU vesting (footnote F2), so the activity appears tax/administration driven rather than a directional investment bet.

Key Details

• Transaction dates: Feb 17, 2026 (derivative exercises / awards); Feb 18, 2026 (open-market sales). Filing date: Feb 19, 2026 (timely).
• Sale quantity and proceeds: 1,648 shares sold for ~ $1,464,240 total (prices in multiple trades ranged roughly $926.29 to $943.86 per share; weighted-average prices and specific ranges are given in the filing footnotes).
• Derivative activity: Exercises/conversions on Feb 17 (M-coded) at $0.00 per share — see footnotes explaining performance RSU vesting schedules (F13–F16) and RSU expiration (F14).
• Other acquisitions: 32.243 shares acquired under Equinix’s ESPP on Feb 13, 2026 (F1).
• Reason given: Sales were pursuant to a 10b5-1 plan to cover withholding taxes for vested RSUs (F2).
• Shares owned after transaction: Not specified in the excerpt of this filing.
• Filing timeliness: Reported Feb 19 for Feb 17–18 activity; filing appears timely.

Context

• Derivative entries here reflect exercised/converted awards or vested RSUs; because some or all of the shares were immediately sold under a pre-established 10b5-1 plan to satisfy tax withholding, this pattern is common and generally administrative in nature rather than a clear buy/sell signal about the insider’s view of the stock.
• The filing includes performance-RSU vesting details (F13–F16) that explain why certain awards vested and why withholding was required.