Illumina (ILMN) Chief Legal Officer Julie Coletti Receives Equity Award

What Happened

• Julie Ann Coletti, Illumina's Chief Legal Officer, received equity awards on 2026-09-08 totaling 29,377 units comprised of restricted stock units (RSUs) and performance stock units (PSUs). The awards were granted at $0.00 per unit (no cash paid).
• Breakdown: 4,549 RSUs (F1), 14,214 RSUs (F2), and two PSU grants of 5,307 units each (F3 and F4). Total reported value at grant = $0 (award/compensation, not an open-market purchase).

Key Details

• Transaction date: 2026-09-08; Form 4 filed: 2026-09-10 (filed timely).
• Transaction code: A = Award/Grant. Price per unit: $0.00; cash outlay = $0.
• Vesting / payout:
  • F1 (4,549 RSUs): 25% vesting on each of the first four anniversaries of the grant date, subject to continued service.
  • F2 (14,214 RSUs): 33.3% vest on each of Sept 5, 2027, 2028 and 2029, subject to continued service.
  • F3 (5,307 PSUs): Contingent payout (0%–250% of target) based on three‑year average consolidated non‑GAAP EPS growth for fiscal years 2026–2028; vesting on Dec 31, 2028, subject to continued service.
  • F4 (5,307 PSUs): Contingent payout (0%–250% of target) based on relative total shareholder return for fiscal year ending Dec 31, 2028; vesting tied to that performance and continued service.
• Shares owned after transaction: Not specified in this Form 4 filing.
• Filing timeliness: Reported within the required window (filed two days after the report date).

Context

• These awards are compensation grants, not open‑market purchases or sales; they do not directly indicate immediate bullish or bearish trading by the insider.
• PSUs are performance‑based and may pay out anywhere from 0% to 250% of target based on specified performance metrics and continued employment; RSUs vest over time with continued service requirements.
• For retail investors, such grants mainly reflect standard executive compensation and retention practices rather than immediate insider market activity.