Sanghi Steve 4

What happened
Steve Sanghi — President, CEO and Chairman of Microchip Technology (MCHP) — had performance stock units (PSUs) and restricted stock units (RSUs) vest on February 15–16, 2026 and converted/exercised the derivatives into common shares. In total he received 142,161 shares at an implicit per-share conversion price of $78.94 (aggregate value shown ~$11.22M). To satisfy tax and exercise-related withholding, 57,805 shares were surrendered/withheld (reported as dispositions), leaving a net increase of about 84,356 shares to his beneficial ownership. Footnotes state vested PSUs/RSUs were delivered to the reporting person upon vest.

Key details

• Transaction dates: Feb 15–16, 2026; Form 4 filed Feb 19, 2026.
• Conversion/exercise (code M): 142,161 shares at $78.94 (total reported value ≈ $11.22M).
• Tax/withholding (code F): 57,805 shares withheld/disposed (total reported value ≈ $4.56M).
• Net shares retained by Sanghi: ≈ 84,356 shares.
• Shares beneficially owned after the transactions: reported around 9.9 million shares (includes holdings via The Sanghi Trust and The Sanghi Family Limited Partnership per footnotes).
• Footnotes: PSUs tied to cumulative non‑GAAP operating margin measurement periods vested (F13, F16); RSUs vested in full (F14, F15). Withholdings reflect tax/exercise obligations.

Context

• These entries are conversions/vestings of equity awards (derivative instruments) rather than open‑market purchases or discretionary sales. Transaction codes: M = exercise/conversion of derivative, F = payment of exercise price/tax withholding.
• Withholding of shares to cover taxes/exercise costs (a common practice) reduces the number of shares delivered to the insider and is not the same as an open‑market sale.
• No trading plan (e.g., 10b5‑1) or late‑filing flag is indicated in the summary; the Form 4 was filed Feb 19, 2026 reporting the Feb 15–16 vesting/conversion events.

Bottom line: This filing documents vested PSUs/RSUs converted to stock for Microchip’s CEO, with substantial gross value delivered and routine share withholding for taxes, resulting in a meaningful net increase in his holdings.