Ericksen Scott D 4

What Happened

• Scott D. Ericksen, Vice President and Chief Accounting Officer of Illumina, converted (exercised) 743 performance share units into common stock on Feb 12, 2026. The conversion had no exercise price ($0.00) because these were performance-based awards.
• To satisfy tax withholding, 306 of those shares were surrendered/disposed at $114.44 per share, generating proceeds of $35,019. After withholding, Ericksen received 437 net shares (743 − 306).

Key Details

• Transaction date: 2026-02-12 (reported on Form 4 filed 2026-02-17).
• Exercise/Conversion: 743 shares @ $0.00 (code M — derivative exercise/conversion).
• Tax withholding: 306 shares withheld/disposed @ $114.44 = $35,019 (code F — tax withholding).
• Net shares delivered to insider: 437 shares.
• Footnote: The shares converted were from performance share units awarded on March 1, 2023; the conversion reflects the company achieving at least 74% of the applicable performance criteria (footnote F1).
• Shares owned after transaction: Not specified in the provided filing.
• Filing timeliness: The Form 4 was filed Feb 17 for a Feb 12 transaction; Form 4s are generally required within 2 business days, so this appears to have been filed after the typical 2-business-day window.

Context

• This was a conversion/vesting of performance-based awards, not an open-market purchase or voluntary sale. The withholding of 306 shares was to cover tax liability (a routine settlement), not necessarily a directional bet on the stock.
• For retail investors, award conversions and tax-withholding disposals are common and do not carry the same signal as an insider buying shares outright.