BALDRIDGE RICHARD A 4

What Happened
Richard A. Baldridge, a director of Viasat, exercised stock options on 2026-06-03 and then sold all resulting shares in an open-market trade the same day. He exercised 17,122 options at $53.43 (cost $914,828), 5,000 at $24.34 (cost $121,700), and 5,000 at $17.33 (cost $86,650) — total exercise cost $1,123,178 — and sold 27,122 shares at $71.74 for gross proceeds of $1,945,732. The filing shows the derivative instruments were converted (reported as disposed at $0.00) as part of the exercise/settlement.

Key Details

• Transaction date: 2026-06-03; Form 4 filed 2026-06-05 (timely).
• Exercises: 17,122 @ $53.43; 5,000 @ $24.34; 5,000 @ $17.33 (total paid $1,123,178).
• Sale: 27,122 shares sold in open market @ $71.74 (gross proceeds $1,945,732).
• Approximate net proceeds before taxes/fees: $1,945,732 - $1,123,178 ≈ $822,554.
• Footnote: F1 — the stock options were fully vested and exercisable.
• The filing reports the derivative instruments converted/settled (shown as disposed at $0.00).

Context
This is a common cashless exercise pattern: options were exercised and the resulting shares were immediately sold. Such transactions convert option value to cash and do not necessarily signal a change in an insider’s view of the company. The filing appears timely (filed two days after the transactions), and no 10b5-1 plan, tax-withholding sale, or late-filing indication was reported in the provided details.