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ILLUMINA, INC.·4

Mar 9, 5:05 PM ET

Davies Scott M 4

Research Summary

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Updated

Illumina (ILMN) Chief Legal Officer Scott M. Davies Receives Awards

What Happened

  • Scott M. Davies, Illumina’s Chief Legal Officer, was granted a total of 19,497 shares on March 5, 2026, reported via Form 4 as acquisitions (award code A). The grants break down as:
    • 5,849 restricted stock units (RSUs) at $128.24 per share (value ≈ $750,076).
    • 6,824 performance stock units (PSUs) at $128.24 per share (target value ≈ $875,110) — derivative/contingent.
    • 6,824 PSUs at $128.24 per share (target value ≈ $875,110) — derivative/contingent.
  • These are grants (compensation), not open-market purchases or sales.

Key Details

  • Transaction date: March 5, 2026; reported filing date: March 9, 2026 (four days after the grant date).
  • Price per share used for reporting: $128.24.
  • Shares acquired on Form 4: total 19,497; aggregate reported value ≈ $2,500,296.
  • Shares owned after the transaction: not specified in the provided filing excerpt.
  • Notable footnotes:
    • F1 (RSUs): Vest 25% each on Feb 15 of 2027, 2028, 2029 and 2030, subject to continued service.
    • F2 (PSU #1): Tied to three‑year average non‑GAAP EPS growth for fiscal years 2026–2028; payout on 12/31/2028 may range 0%–250% of target, subject to continued service.
    • F3 (PSU #2): Tied to relative total shareholder return for year ending 12/31/2028; payout on 12/31/2028 may range 0%–250% of target, subject to continued service.
  • Filing timeliness: Filed March 9 for a March 5 grant—Form 4s are typically due within two business days, so the later filing may be considered delayed (check the full filing for any timeliness flag).

Context

  • RSUs deliver shares over time if the executive remains employed (vesting schedule above). PSUs are performance‑based awards that may pay out more or fewer shares (0%–250% of target) depending on meeting specified performance metrics; they are contingent awards, not immediate share transfers.
  • These awards reflect typical executive compensation, not an open‑market buy or sell, and should be interpreted as part of the company’s pay program rather than a direct trading signal.