Lee John Tseng-Chung 4

What Happened
Lee John Tseng‑Chung, a director of Cognex Corporation (CGNX), reported the conversion/exercise of derivative awards on Feb 21, 2026. The filing shows 2,913 shares acquired at $0.00 and a corresponding disposition of 2,913 derivative units at $0.00 — effectively converting restricted stock units (RSUs) into 2,913 common shares. No cash was paid in connection with this conversion.

Key Details

• Transaction date: February 21, 2026; Form 4 filed February 24, 2026 (timely).
• Reported entries: Acquired 2,913 shares @ $0.00 (code M — exercise/conversion); Disposed 2,913 derivative units @ $0.00 (derivative termination).
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 clarifies each RSU equals a contingent right to one share; F2 notes the RSUs were granted Feb 21, 2023 and vest roughly 20%/30%/50% on the 1st/2nd/3rd anniversaries — the Feb 21, 2026 date corresponds to the 50% vesting tranche.
• No sale or cash proceeds are reported in this filing (this is not an open‑market sale).

Context
This appears to be a standard vesting/conversion of RSUs into common stock (code M), not a purchase or market sale. Because the RSUs convert at $0 exercise price, there was no cash outlay; the derivative interest simply converted into shares per the grant’s vesting schedule. Such conversions are routine compensation events and do not by themselves indicate an open‑market buy or sell decision.