Oldham Paul R 4

What Happened

• Paul R. Oldham, Executive Vice President and Chief Financial Officer of Advanced Energy Industries (AEIS), had 15,466 performance-based shares vest on Feb 18, 2026. The vesting was recorded as an exercise/conversion of a derivative valued at $314.12 per share (total value $4,858,180). Rather than taking actual shares, Oldham elected to defer receipt; the shares were converted into 15,466 phantom stock units under the company’s deferred compensation plan.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely filing within the 2-business-day window).
• Recorded exercise/conversion (code M): 15,466 shares at $314.12 — total reported value $4,858,180.
• Recorded disposition to issuer (code D): 15,466 shares (this reflects the conversion/deferral; not an open-market sale).
• Grant/award recorded (code A): 15,466 derivative shares reported at $0.00 (reflecting the PSU vesting and conversion).
• Prior related entry: 2025-02-20 shows a derivative conversion of 9,460 shares at $0.00 (reported as disposed).
• Shares owned after transaction: 21,639 shares of common stock and 3,153 unvested restricted stock units (per filing footnote).
• Footnotes: These shares vested from performance unit awards issued under the 2023 Long-Term Incentive Plan (awarded Mar 1, 2023 at 100% of target and vested based on performance). The vested shares were approved for release 2/18/2026 and, per Oldham’s election under the Plan, converted into phantom stock (each phantom share equals the right to one share or cash value; payout and transfer options are governed by the Plan).

Context

• This was not an open-market sale or purchase. The filing documents vesting of performance awards and a deferral election resulting in phantom stock (i.e., no immediate sale proceeds to the insider).
• For retail investors: vesting and deferral of performance units is routine compensation administration and does not necessarily signal a buy/sell view by the insider.