FISCHER GARY L 4

What Happened Gary L. Fischer, Chief Financial Officer of AXT Inc. (AXTI), was awarded 75,718 performance shares (PSAs) on February 18, 2026. The shares were granted at $0.00 (an award/acquisition, not a market purchase) and are performance-based — they vest only if specified FY2025 financial targets are met. The filing lists the grant as transaction code "A" (award/grant).

Key Details

• Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (filed within the typical 2-business-day window).
• Amount: 75,718 PSAs granted; acquisition price: $0.00 (no cash paid).
• Footnote: The PSAs were originally approved to Mr. Fischer on Feb 18, 2025 and the reported award represents 97.6% of the maximum PSAs issuable to him for exceeding FY2025 targets.
• Shares owned after transaction: not disclosed in the details provided here.
• Transaction type code: A = Award/Grant (performance-contingent equity).

Context Performance share awards are compensation that only convert to actual shares if the company meets specified financial goals; they are different from open-market purchases and do not necessarily indicate immediate insider buying or selling. This award increases potential future ownership if FY2025 targets are exceeded but is contingent on performance and any vesting conditions.