Garrabrants Gregory 4
4 · Axos Financial, Inc. · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
Axos Financial CEO Gregory Garrabrants Receives RSU Award
What Happened
Gregory Garrabrants, President, CEO and a director of Axos Financial (AX), had 202,032 restricted stock units (RSUs) vest on June 30, 2026. The vested RSUs were converted into 202,032 shares (conversion reported as an exercise/conversion of derivative) at a reported per-share value of $97.39 (total value $19,675,896). Axos withheld 108,995 of those shares for tax withholding (disposition to issuer) valued at $97.39 each (≈ $10,615,023), leaving Garrabrants with a net delivery of 93,037 shares (202,032 − 108,995), worth roughly $9.06M at the $97.39 price. The withholding was a tax settlement rather than an open-market sale.
Key Details
- Transaction date: 2026-06-30; filing date: 2026-07-01. Report shows no indication of a late filing.
- Prices/values reported: $97.39 per share; RSU vesting value $19,675,896; shares withheld value $10,615,023.
- Net shares received: 93,037 shares (202,032 vested − 108,995 withheld). Estimated net market value ≈ $9.06M (based on $97.39).
- Shares owned after transaction: not specified in the provided filing details.
- Footnotes: RSUs were granted under the Axos Financial, Inc. 2014 Stock Incentive Plans in connection with his employment agreement, include dividend equivalent rights, and vest one-fourth each fiscal year (annual vesting). The disposition to the issuer represents company share retention for tax withholding.
Context
This was an executive RSU vesting and net-share settlement (company withheld shares for taxes), not an open-market sale or a purchase. The derivative conversion (M code) reflects the RSUs converting into common stock; the D code reflects tax withholding. For retail investors, such vesting events are routine compensation-related transactions rather than direct signals of buying or selling intent.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30$97.39/sh+202,032$19,675,896→ 1,618,261 total - Disposition to Issuer
Common Stock
[F2]2026-06-30$97.39/sh−108,995$10,615,023→ 1,509,266 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-06-30−202,032→ 392,747 total→ Common Stock (202,032 underlying)
- 3,047(indirect: By 401(k))
Common Stock
- 170,680(indirect: By Trust)
Common Stock
Footnotes (4)
- [F1]Represents shares of Common Stock issued on June 30, 2026 following the vesting of Restricted Stock Units ("RSUs") which vest one-fourth each year. The RSUs were previously granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plans in connection with the reporting person's employment agreement as President and Chief Executive Officer.
- [F2]Represents shares of Common Stock retained by Axos Financial, Inc. for tax withholding purposes in connection with the net-settlement on the issuance of shares of Common Stock in respect to the vested RSUs.
- [F3]The RSUs were granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plans in connection with the reporting person's employment agreement as President and Chief Executive Officer. Each RSU represents a contingent right to receive one share of Axos Financial, Inc. Common Stock. The RSUs are accompanied by dividend equivalent rights.
- [F4]The RSUs vest over four years, one-fourth on each fiscal year-end following the date of grant.