Earnings Feed
Start Free
ILLUMINA, INC.·4

Mar 9, 5:06 PM ET

Barnard Steven 4

Research Summary

AI-generated summary

Updated

Illumina (ILMN) CTO Steven Barnard Receives $3.25M in Stock Awards

What Happened
Steven Barnard, Senior Vice President and Chief Technology Officer of Illumina (ILMN), received equity awards on March 5, 2026. The filing shows a grant of 7,603 restricted stock units (RSUs) reported at $128.24 each (approx. $975,009) plus two performance-based derivative awards of 8,871 units each (reported values $1,137,617 at $128.24 and $1,142,053 at $128.74). In aggregate the awards total 25,345 units with a reported aggregate value of roughly $3.25 million. These awards are company compensation (acquisitions via grant), not open-market purchases.

Key Details

  • Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely filing).
  • Awards and reported values:
    • 7,603 RSUs @ $128.24 = $975,009 (non‑derivative RSU award).
    • 8,871 performance stock units (PSUs) @ $128.24 = $1,137,617 (derivative).
    • 8,871 performance stock units (PSUs) @ $128.74 = $1,142,053 (derivative).
  • Total units shown: 25,345; combined reported value ≈ $3,254,679. Actual shares received from PSUs can vary (see below).
  • Shares owned after the transaction: total balance after these grants is not explicitly stated in the filing; footnote notes 297 shares acquired previously through the Employee Stock Purchase Plan (ESPP) are included in the balance.
  • Footnotes of note:
    • F1: RSUs vest 25% annually on Feb 15 of 2027, 2028, 2029, and 2030, subject to continued service.
    • F3: One PSU award vests Dec 31, 2028 and pays 0%–250% of target based on 3‑year average consolidated non‑GAAP EPS growth (fiscal 2026–2028).
    • F4: The other PSU award vests Dec 31, 2028 and pays 0%–250% of target based on relative total shareholder return for fiscal 2028.

Context

  • RSUs are time‑based compensation that convert to shares if the executive remains employed through vesting dates (routine retention tool).
  • The PSUs are performance‑contingent derivatives: they do not guarantee a fixed number of shares — final payout can range from 0% to 250% of target depending on company performance metrics measured through 2028.
  • These awards represent compensation rather than an insider buying stock on the open market; they are common for executive pay and not a direct trading signal.