Fabrinet (FN) President & COO Gill Harpal Receives PSUs; Tax Withholding

What Happened
Gill Harpal, President and COO of Fabrinet (FN), had performance-based restricted stock units (PSUs) vest on August 11, 2026, converting into 12,849 shares (6,493 + 6,356) at $0.00 cost. To cover the tax liability from the vesting, 6,933 of those shares were withheld/disposed at $525.88 each, resulting in proceeds/value of $3,645,926. Net shares delivered to Harpal after withholding were 5,916.

Key Details

• Transaction date: August 11, 2026; Form 4 filed August 13, 2026 (filed two days after the transaction).
• Awards/Acquisitions: 6,493 shares and 6,356 shares acquired at $0.00 (PSU vesting).
• Tax withholding/disposition: 6,933 shares withheld/disposed at $525.88 each for $3,645,926 (code F).
• Source of award: PSUs granted August 22, 2024 that vested after exceeding pre-established performance targets certified by the Compensation Committee on August 11, 2026 (footnote).
• Shares owned after the transaction: not specified in the filing.
• Transaction codes: A = award/acquisition (PSU vesting); F = shares withheld to satisfy tax liability.

Context
This was a performance-based award vesting event, not an open-market sale. The withholding of shares to cover taxes is a common, administrative disposition and does not necessarily indicate a proactive sale by the insider. For retail investors, PSUs vesting due to certified outperformance is a positive signal about achieved targets, while the withheld shares simply reflect tax withholding, not a market exit.