Viasat CTO Girish Receives Vested RSUs; Shares Withheld for Taxes

What Happened

• Chandran Girish, CTO and SVP Engineering of Viasat, had 15,620 restricted stock units (RSUs convert 1-for-1 to common shares) vest on 2026-09-17. The conversion is reported as an exercise/conversion of a derivative (code M) at $0.
• To satisfy the tax withholding obligation, 8,427 of those vested shares were withheld by the issuer (reported as a disposition under code F) at a per-share price of $73.02, totaling $615,340. After withholding, Girish received a net of 7,193 shares (15,620 − 8,427), with an implied market value of roughly $525,200 based on the reported $73.02 price.

Key Details

• Transaction date: 2026-09-17; Form 4 filed: 2026-09-21 (filing appears timely).
• Reported entries: conversion of 15,620 RSUs into common stock (M, $0); 8,427 shares withheld for taxes (F) at $73.02/share = $615,340.
• Net shares retained by the insider from this vesting: 7,193 shares (not sold on market).
• Footnotes:
  • F1: Withheld shares were not sold by the reporting person but offset by the issuer to satisfy tax withholding.
  • F2: Original RSU grant was 45,940 units (granted 08/17/2025) with a vesting schedule: 34% on 9/17/2026; 33% on 6/7/2027; 33% on 6/7/2028.
  • F3: RSUs are subject to forfeiture until vested.
• Shares owned after the transaction: not specified in this filing.

Context

• This is a routine compensation-related vesting event (award conversion and cashless tax withholding), not an open-market purchase or sale. The conversion is recorded as a derivative exercise (M) because RSUs are treated as a derivative until they convert to shares.
• Withholding of shares to cover taxes is common and doesn't necessarily indicate the insider's view of the stock.