LITCHFIELD STEVEN G 4

What Happened

• Steven G. Litchfield, MaxLinear's Chief Financial Officer and Chief Corporate Strategy Officer, received multiple equity awards/vests and converted certain derivative awards into common stock in mid-February 2026. The filing shows a series of grants and conversions totaling roughly 132,968 shares issued/converted (various awards/RSU conversions), and a share disposition of 42,532 shares at $18.47 per share to satisfy tax/exercise obligations, valued at approximately $785,566. Several additional small conversions/dispositions were recorded on the same dates.

Key Details

• Transaction dates: Feb 18, 2026 (grant of RSUs) and Feb 20, 2026 (grants/conversions/withholding).
• Prices: Awards/conversions reported at $0.00 (typical for RSUs/vested shares); 42,532 shares disposed/withheld at $18.47 each (total ~$785,566).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: Awards issued under the Amended and Restated 2010 Equity Incentive Plan; grants include performance-based restricted stock and RSUs with future vesting schedules (see footnotes for vesting timelines). The 42,532-share disposition was to cover tax/exercise obligations (tax withholding).
• Filing timeliness: Form filed Feb 23, 2026 covering transactions through Feb 20, 2026 (filing lateness not indicated in the filing).

Context

• These entries are primarily awards/RSU vesting and conversions (transaction code A for awards, M for exercise/conversion). When RSUs vest or are converted, companies commonly withhold or transfer shares to satisfy tax withholding or exercise costs — a routine administrative event that does not necessarily signal insider sentiment.
• The presence of both awards and immediate share surrenders suggests a standard net settlement/cashless-like process to meet tax obligations rather than an outright open-market sale by the insider.