Pletcher Kurt 4

What Happened

• Kurt Pletcher, Chief Legal Officer of Equinix, was granted 559 fully‑vested restricted stock units (RSUs) on March 11, 2026 under the 2025 Annual Incentive Plan (performance criteria met). He converted/exercised those derivative awards and sold all 559 resulting shares in multiple open‑market transactions on March 12, 2026.
• The shares sold totaled $539,819 (aggregate) at an approximate weighted average price of $965.7 per share. The activity appears to be a routine disposition following grant/conversion rather than a market purchase.

Key Details

• Transaction dates: Grant/conversion March 11, 2026; market sales March 12, 2026. Form filed March 13, 2026 (timely).
• Shares involved: 559 RSUs granted/converted; 559 shares sold across multiple trades.
• Aggregate value of sales: $539,819; approximate weighted average sale price ≈ $965.7/share.
• Footnotes: Grant was 100% of the award under the 2025 Annual Incentive Plan (F13). The RSU award expires on termination (F14). Some sales were made pursuant to a pre‑arranged 10b5‑1 trading plan (F1). Several footnotes note that reported prices are weighted averages for groups of trades and give the price ranges for those groups (F2–F12).
• Net effect on these transactions: no net increase in shares from the grant+conversion then sale (acquired 559, disposed 559). The filing does not by itself disclose total beneficial ownership after these transactions.

Context

• This was an award + near‑immediate conversion/sale: typical for executives who receive stock awards and then sell shares to realize value or diversify. Because the sales were executed under a 10b5‑1 plan and occurred in multiple trades with weighted average pricing, they appear to be pre‑planned rather than opportunistic market timing.
• The filing uses derivative transaction codes: A = award/grant (RSUs), M = exercise/conversion of derivative, S = open market sale. No purchase (P) activity here.