Viasat (VSAT) Director Paull Michael Exercises Options, Receives RSUs

What Happened

• Paull Michael, a director of Viasat, reported exercises/conversions of derivatives and a grant on 2026-09-03. The filing shows an exercise/conversion of 6,388 shares (acquired) and a contemporaneous disposition of 6,388 shares (disposed), both reported at $0.00. In addition, he was granted 3,485 restricted stock units (RSUs) at $0.00 (contingent award).

Key Details

• Transaction date: 2026-09-03; Form 4 filed: 2026-09-08.
• Exercise/conversion (code M): 6,388 shares acquired @ $0.00 and 6,388 shares disposed @ $0.00 on the same date.
• Grant/award (code A): 3,485 RSUs @ $0.00 (contingent right to receive shares).
• Reported cash consideration: $0.00 for all listed transactions.
• Shares owned after the transactions: not specified in this filing.
• Footnotes: F1—each RSU converts to one share; F2—RSUs vest on the earlier of the first anniversary of grant or next annual meeting, subject to continued board service; F3—RSUs are forfeitable if directorship terminates before vesting.
• Filing timing: The Form 4 was filed five days after the transactions (filed 2026-09-08 for activity on 2026-09-03); Form 4s are typically due within two business days, so this may reflect a delayed filing.

Context

• The filing records both acquisition and disposition of the same 6,388 shares on the same date, which commonly reflects an exercise/conversion combined with an immediate sale or net settlement (cashless exercise or share-swap style settlement). The filing reports $0 cash paid, consistent with a non-cash or net-share settlement per the report.
• The 3,485 RSUs are contingent awards subject to vesting and forfeiture rules—they are not yet issued shares until vesting conditions are met.
• These entries are procedural/director compensation and conversion events; they are factual disclosures rather than statements of intent or market sentiment.