Jankovic Walter 4

What Happened

• Walter Jankovic, Chief Financial Officer of Harmonic Inc. (HLIT), had restricted stock units (RSUs) convert into 19,785 shares on May 15, 2026. To satisfy tax withholding, 9,099 shares were surrendered at an implied withholding price of $12.54 per share, totaling $114,101.
• The filing breaks the conversion into component lots of 3,218, 8,071 and 8,496 RSUs (total 19,785). The transaction is recorded as a conversion/exercise of a derivative (code M) with a separate tax withholding disposition (code F).

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (timely within the two-business-day window).
• Shares converted (acquired): 19,785 RSUs → shares at $0 exercise price (RSUs convert without cash cost).
• Shares withheld for taxes (disposed): 9,099 shares at $12.54 per share = $114,101.
• Component conversion lines: 3,218; 8,071; 8,496 shares (sum = 19,785).
• Footnote: Each restricted stock unit represents a contingent right to receive one share of HLIT common stock.
• Shares owned after the transaction: not specified in the provided excerpt.

Context

• This was an award vesting (RSU conversion), not a market purchase or a voluntary sale; the withholding of shares to cover taxes is routine and common in executive equity settlements (a form of cashless settlement).
• Transaction codes: M = exercise/conversion of derivative (here, RSU vesting); F = payment of exercise price or tax liability (share withholding).
• Such conversions and withholdings are administrative and don’t necessarily signal the insider’s view of the company’s prospects.