Paladin Michael Shane 4
4 · EQUINIX INC · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Equinix (EQIX) Chief Customer & Revenue Officer Michael Paladin Sells Shares
What Happened Michael Shane Paladin, Equinix’s Chief Customer & Revenue Officer, sold 673 shares of EQIX in open-market transactions on Feb 18, 2026, generating roughly $628,735. Specific disposals reported: 80 @ $927.07 ($74,165), 173 @ $928.00 ($160,545), 60 @ $930.37 ($55,822), 40 @ $932.08 ($37,283), 80 @ $934.27 ($74,742), 40 @ $938.94 ($37,558), 40 @ $940.10 ($37,604), 40 @ $941.58 ($37,663), 80 @ $942.76 ($75,421), and 40 @ $948.30 ($37,932). These sales followed derivative/award activity on Feb 17 (award of 3,252 derivative shares and conversion/exercise of 1,626 derivative shares). Several acquisitions are recorded at $0, indicating vested restricted/performance awards rather than cash purchases.
Key Details
- Transaction dates: derivative award/exercise on Feb 17, 2026; open-market sales on Feb 18, 2026; Form 4 filed Feb 19, 2026 (timely).
- Sales totaled 673 shares for approx. $628,735. Some reported prices are weighted averages; reported intra-range prices: $926.92–$927.21, $928.00–$928.29, and $942.64–$942.89 (per footnotes).
- Other activity noted: 64.485 shares acquired under the Equinix ESPP on Feb 13, 2026 (F1).
- Footnotes: sales were made pursuant to a prearranged 10b5-1 trading plan to raise funds for required tax withholding following RSU vesting (F2). The performance RSU award that partly vested was granted Mar 11, 2025; 50% vested Feb 15, 2026 with remaining tranches on Feb 15, 2027 and Feb 15, 2028 (F6). Restricted stock units expire on termination of service (F7).
- Shares owned after the transactions are not specified in the provided excerpt.
Context
- The filing shows derivative awards/vesting and immediate sales to cover tax obligations — a common practice where vested RSUs/PSUs are converted to shares and some shares are sold under a 10b5-1 or withholding arrangement. This pattern is generally administrative (tax/payment) rather than a direct buy/sell signal of personal market conviction.
- Transaction codes: M = exercised/converted derivative, A = award/grant, S = open-market sale; F (tax withholding) applies to the disposition to cover taxes.
Insider Transaction Report
Form 4
EQUINIX INCEQIX
Paladin Michael Shane
Chief Customer & Rev Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-17+1,626→ 2,642.485 total - Sale
Common Stock
[F2][F3]2026-02-18$927.07/sh−80$74,165→ 2,562.485 total - Sale
Common Stock
[F2][F4]2026-02-18$928.00/sh−173$160,545→ 2,389.485 total - Sale
Common Stock
[F2]2026-02-18$930.37/sh−60$55,822→ 2,329.485 total - Sale
Common Stock
[F2]2026-02-18$932.08/sh−40$37,283→ 2,289.485 total - Sale
Common Stock
[F2]2026-02-18$934.27/sh−80$74,742→ 2,209.485 total - Sale
Common Stock
[F2]2026-02-18$938.94/sh−40$37,558→ 2,169.485 total - Sale
Common Stock
[F2]2026-02-18$940.10/sh−40$37,604→ 2,129.485 total - Sale
Common Stock
[F2]2026-02-18$941.58/sh−40$37,663→ 2,089.485 total - Sale
Common Stock
[F2][F5]2026-02-18$942.76/sh−80$75,421→ 2,009.485 total - Sale
Common Stock
[F2]2026-02-18$948.30/sh−40$37,932→ 1,969.485 total - Award
Restricted Stock Unit
[F6][F7]2026-02-17+3,252→ 3,252 totalExercise: $0.00→ Common Stock (3,252 underlying) - Exercise/Conversion
Restricted Stock Unit
[F6][F7]2026-02-17−1,626→ 1,626 totalExercise: $0.00→ Common Stock (1,626 underlying)
Footnotes (7)
- [F1]64.485 shares acquired under the Equinix, Inc. Employee Stock Purchase Plan on February 13, 2026.
- [F2]Shares were sold pursuant to a 10b5-1 Trading Plan in order to raise funds to pay the required withholding tax pursuant to the vesting of RSUs.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $926.92 to $927.21, inclusive. The reporting person undertakes to provide to Equinix, Inc, any security holder of Equinix Inc, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 4 and 5 to this Form 4.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $928.00 to $928.29 inclusive.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $942.64 to $942.89 inclusive.
- [F6]On March 11, 2025 the reporting person was granted performance restricted stock units, the vesting of which was subject to both continued service and the attainment of certain AFFO, Revenue and EBITDA targets for 2025. The Compensation Committee certified the degree to which the targets were achieved, therefore 50% of the award vested on February 15, 2026, 25% will vest on February 15, 2027 and the remaining 25% will vest on February 15, 2028, subject solely to continued service.
- [F7]Restricted stock unit award expires upon reporting person's termination of service.
Signature
/s/ Samantha Lagocki, POA|2026-02-19