Viasat (VSAT) Director Theresa Wise Exercises Derivatives, Receives RSUs

What Happened

• Theresa Wise, a non-employee director of Viasat, converted/exercised 6,388 derivative units into common shares on 2026-09-03 (reported on a Form 4 filed 2026-09-08). The filing also shows a same-day disposition of those 6,388 shares. In addition, Wise was granted 3,485 restricted stock units (RSUs) on the same date.
• All reported transactions show an exercise/grant price of $0.00, so the reported cash value on the Form 4 is $0 for each line. The RSUs are recorded as awards (derivative securities) rather than immediately vested shares.

Key Details

• Transaction date(s): 2026-09-03; Form 4 filed: 2026-09-08.
• Transactions reported:
  • M (exercise/conversion): 6,388 shares acquired @ $0.00
  • M (exercise/conversion): 6,388 shares disposed @ $0.00 (same day)
  • A (award/grant): 3,485 RSUs @ $0.00 (derivative)
• Shares owned after the transaction: Not specified in this filing.
• Footnotes:
  • F1: Each RSU represents a contingent right to one share of Viasat common stock.
  • F2: RSUs vest and convert on the earlier of (i) first anniversary of grant or (ii) next annual meeting, subject to continued board service.
  • F3: RSUs are subject to forfeiture if the director leaves before vesting.
• No 10b5-1 plan, tax-withholding details, or destination of the disposed shares are specified in the Form 4.

Context

• The filing shows the exercised/conversion of derivative securities and a same-day disposition of the resulting 6,388 shares; the Form 4 does not disclose the reason for the disposition (e.g., sale, net settlement for taxes, or transfer).
• The 3,485 RSUs are awards that remain contingent until they vest per the footnoted conditions and do not represent immediately tradable shares.