Paladin Michael Shane 4

What Happened

• Michael Shane Paladin, Chief Customer & Revenue Officer at Equinix, was granted 297 fully‑vested restricted stock units (RSUs) on March 11, 2026 under the 2025 Annual Incentive Plan. Those RSUs converted to 297 shares (reported as exercise/conversion of a derivative at $0).
• On March 12, 2026 he sold 118 of those shares in multiple open‑market transactions, generating approximately $114,067 in proceeds. The sales were executed under a pre‑arranged 10b5‑1 trading plan to raise funds to pay required withholding taxes.

Key Details

• Grant: 297 RSUs granted March 11, 2026 (F8). RSU award vests/was granted and converts to shares; award expires upon termination (F9).
• Conversion/Exercise: 297 shares converted/exercised at $0 on March 11, 2026 (derivative conversion, code M).
• Sales: 118 shares sold on March 12, 2026 in several lots at prices roughly in the $958–$969 per‑share range (weighted average prices reported for each lot). Total reported cash proceeds ≈ $114,067.
• Reason: Sales made pursuant to a 10b5‑1 trading plan to cover withholding taxes on the vested RSUs (F1).
• Filing timeliness: Transaction reported in a Form 4 filed March 13, 2026 for transactions on March 11–12, 2026 (filed within the usual 2‑business‑day window).

Context

• This was a routine vesting and tax‑related sale: RSUs were granted and converted to shares, and a portion was sold to satisfy tax withholding. The conversion had no exercise price (reported at $0), and the sales under a 10b5‑1 plan suggest pre‑scheduled disposition rather than a discretionary market timing decision.
• No indication in this filing of a larger change in insider ownership or of a 10% owner transaction.