Raza Adnan 4

What Happened
Raza Adnan, EVP, Finance and Chief Financial Officer of PDF Solutions (PDFS), was granted 23,450 restricted stock units (RSUs) on July 1, 2026. On the same date he surrendered 6,010 shares to the company to satisfy tax withholding obligations related to RSU vesting; those surrendered shares were valued at $66.88 each for a total of $401,949. The surrender to cover taxes is a company withholding, not an open-market sale.

Key Details

• Transaction date: July 1, 2026.
• Award: 23,450 RSUs (Transaction code A). Price N/A for grant.
• Tax withholding: 6,010 shares surrendered at $66.88 each, total $401,949 (Transaction code F). This reflects shares withheld by the company to cover taxes, not a public sale.
• Vesting terms: The RSUs are subject to a time-based vesting schedule — 12.5% vests six months after the Vesting Start Date and 12.5% every six months thereafter until fully vested (footnote).
• Filing timeliness: Reported July 2, 2026 for a July 1, 2026 transaction — appears timely.
• Additional note: The filing states it includes 1,124 shares purchased under the company’s Employee Stock Purchase Plan on Jan 31, 2026.
• Shares owned after the transactions: Not specified in this Form 4.

Context
RSU grants are standard executive compensation and indicate an acquisition of company stock that vests over time; they are not an immediate open-market purchase. The share surrender was a withholding action to cover tax liabilities on vesting (a routine administrative step) rather than a signal of selling into the market.