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JETBLUE AIRWAYS CORP·4

Mar 12, 9:25 PM ET

Miller Steven D 4

Research Summary

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JetBlue (JBLU) Director Steven D. Miller Exercises Derivatives, Receives DSUs

What Happened

  • Steven D. Miller, a director of JetBlue Airways Corp. (JBLU), had derivative conversions and a grant on 2026-03-10. He converted (exercised/converted) 22,094 vested restricted units into 22,094 shares and a matching 22,094-share disposition was reported the same day. He was also granted 29,867 deferred stock units (DSUs). The filing lists no per-share prices or dollar values (N/A).

Key Details

  • Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely).
  • Converted/acquired shares: 22,094 (derivative conversion, code M); Disposed: 22,094 (code M). No prices or proceeds reported (N/A).
  • Grant: 29,867 DSUs (derivative award, code A); vesting and settlement terms described below.
  • Shares owned after transaction: not specified in the provided filing data.
  • Notable footnotes:
    • F1: Upon vesting, each restricted stock unit entitles the reporting person to one share.
    • F2: DSUs entitle the holder to one share upon vesting; settlement of vested DSUs occurs six months following a director’s departure from the board. Annual DSU grants vest one year after grant.
    • F3: The DSU award vests over one year measured from the vesting commencement date of March 10, 2026.
    • F4: Director restricted stock units referenced vested on the one-year anniversary of March 10, 2025 (i.e., March 10, 2026).
  • The filing does not specify whether the 22,094-share disposition was an open-market sale, transfer to a broker for tax withholding, or another form of disposition.

Context

  • The filings indicate a conversion of vested director restricted units into common stock (a non-cash vesting event) and a coincident disposition of those same shares; such paired conversion-and-disposition transactions are often administrative (e.g., to satisfy tax obligations) but the filing does not state the reason or price.
  • The DSU grant is a deferred award that vests over a year starting March 10, 2026 and will only be settled (converted into shares) under the DSU settlement rules noted in the footnotes.