Illumina (ILMN) Chief of Global Operations Kevin Pegels Receives Award

What Happened
Kevin Pegels, Chief of Global Operations at Illumina (ILMN), was granted time- and performance-based equity awards on March 5, 2026. The filing shows: 6,317 restricted stock units (RSUs) valued at $128.24 each ($810,092), plus two performance stock unit (PSU) grants of 7,369 units each at $128.24 (~$945,001 each). These were awards (code A), not open-market purchases or sales.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (within the required two-business-day window).
• Grant prices used for reporting: $128.24 per share.
• Awards reported:
  • 6,317 RSUs — $810,092.
  • 7,369 PSUs — $945,001 (performance-contingent).
  • 7,369 PSUs — $945,001 (performance-contingent).
• Shares owned after the grants: not disclosed in this filing.
• No tax-withholding sales or dispositions reported in this Form 4.
• Transaction code: A = Award/Grant.

Context

• The 6,317 RSUs vest 25% annually on Feb 15 of 2027, 2028, 2029 and 2030, subject to continued service.
• The two PSU grants are contingent awards: one vests based on Illumina’s three-year average non-GAAP EPS growth for FY2026–2028 (payout 0%–250% of target); the other vests based on relative total shareholder return for the year ending Dec 31, 2028 (payout 0%–250% of target). Both PSU awards vest on Dec 31, 2028, subject to continued service.
• These are compensation awards (non-cash) and not direct purchases — PSUs are derivative/contingent and may pay out none, the target amount, or up to 250% depending on performance.