WELCHER BLAKE 4

What Happened

• Blake Welcher, a director of Netlist, Inc. (NLST), received a grant of 100,000 restricted stock units (RSUs) reported as an award on 2026-06-05. The RSUs were granted at a $0.00 per-share acquisition price (i.e., no cash exchanged at grant), so the reported transaction value at grant is $0. Each RSU represents a contingent right to receive one share of Netlist common stock upon vesting.

Key Details

• Transaction date and code: 2026-06-05, code A (award/grant), price reported $0.00.
• Vesting: The RSUs vest over four years, with 1/4 of the shares vesting on each anniversary of June 9, 2026 (shares delivered upon vesting). (Footnote F1)
• Report includes unvested RSUs: the amount reported includes shares subject to unvested RSUs. (Footnote F2)
• Shares owned after transaction: not specified in the disclosed filing.
• Filing timeliness: Form 4 was filed on 2026-06-09 for the 2026-06-05 transaction (filed within the required reporting window).

Context

• RSU grants are a common form of equity compensation and do not represent immediate ownership until the units vest and shares are delivered. Because these are contingent/vested shares, there was no cash paid or sale proceeds at the time of grant. This type of award is typically administrative compensation rather than an open-market purchase or sale.