Leckman Patricia 4

What Happened

• Patricia Leckman, SVP & Chief People Officer at Illumina, converted 1,028 performance-based equity units (derivatives) on Feb 12, 2026. Of those, 424 shares were withheld/sold to cover tax obligations at $114.44 per share, raising about $48,523. The conversion extinguished the derivative award and resulted in a net retention of roughly 604 common shares (gross value ≈ $117,644; net retained value ≈ $69,122).
• These shares were awarded as the result of achieving at least 74% of the applicable performance criteria for performance share units granted on March 1, 2023 (see footnote F1). The transaction combines an award conversion (code M) and a tax-withholding share disposition (code F).

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026.
• Actions reported: Conversion/exercise of derivative (M) — 1,028 shares; Tax withholding/share disposition (F) — 424 shares sold @ $114.44 for ~$48,523; derivative interest canceled (M) — 1,028 units.
• Net shares retained from the conversion: ~604 shares (1,028 − 424).
• Footnote: F1 — shares resulted from achieving ≥74% of performance criteria for PSUs granted 3/1/2023.
• Shares owned after the transaction: not disclosed in the provided excerpt.

Context

• This was primarily a conversion/settlement of performance share units, not an open-market buy or a discretionary sale — the 424-share sale was routine tax withholding to satisfy tax liabilities, which is common and does not necessarily signal personal trading intent.
• For retail investors, conversions/vests are informational about compensation realization and dilution but are not the same signal as an outright insider purchase (which often attracts more attention).