MORANDI BRANDI GALVIN 4

What Happened
Brandi Morandi, Chief People Officer of Equinix, received 630 fully‑vested restricted stock units (RSUs) on March 11, 2026, which converted to 630 shares (exercise/conversion at $0). Those 630 shares were sold in the open market on March 12, 2026 at $961.19 per share, producing proceeds of approximately $605,550. The grant and conversion show $0 acquisition price because these were RSUs awarded and then converted to common stock.

Key Details

• Transaction dates and prices:
  • March 11, 2026: Grant of 630 RSUs (A) — reported as $0 acquisition (footnote F2).
  • March 11, 2026: Conversion/exercise of 630 RSUs to shares (M) — $0 exercise price.
  • March 12, 2026: Open‑market sale of 630 shares (S) at $961.19 each — total proceeds ≈ $605,550 (footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Notable footnotes:
  • F1: Shares sold pursuant to a pre‑established 10b5‑1 trading plan.
  • F2: RSUs granted under the 2025 Annual Incentive Plan after performance criteria were met (100% of award granted).
  • F3: Awarded RSUs expire upon termination of service.
• Filing timeliness: Form 4 filed March 13, 2026; no late‑filing indicator noted in the excerpt.

Context
These were not an out‑of‑pocket purchase but an award (RSUs) that converted to shares and were then sold under a preexisting 10b5‑1 plan. Sales under 10b5‑1 plans are typically prearranged and routine; the filing documents the grant, conversion, and immediate sale but does not by itself indicate insider sentiment.