Trivedi Dhrupad 4

What Happened

• Dhrupad Trivedi, CEO of A10 Networks (ATEN), sold a total of 100,000 shares in three open-market transactions (33,333; 33,333; 33,334) for aggregate proceeds of $2,060,000. The individual trade prices reported were $20.69, $20.56 and $20.55 per share.
• On February 12, 2026, he was also awarded time-based Restricted Stock Units (131,516 RSUs) and 131,516 Performance-based Restricted Stock Units (PSUs) (both reported as acquisitions at $0.00). The PSUs are contingent on future price-based performance milestones.

Key Details

• Transaction dates and amounts:
  • 2026-02-11: Sale 33,333 shares @ $20.69 = $689,660
  • 2026-02-12: Sale 33,333 shares @ $20.56 = $685,326
  • 2026-02-13: Sale 33,334 shares @ $20.55 = $685,014
  • 2026-02-12: Grant of 131,516 RSUs (time-based) and 131,516 PSUs (performance-based)
• Aggregate sales proceeds: $2,060,000.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes:
  • Sales were made under a pre-established Rule 10b5-1 trading plan adopted 9/12/2025 (routine, preplanned sales).
  • Weighted-average sale price ranges disclosed across trades (approx. $20.18–$21.11); the filing notes availability of per-price details on request.
  • RSU vesting: one‑third vests on each of the first three anniversaries of vesting commencement (2/1/2026) if employment continues.
  • PSUs: 131,516 contingent units that vest only if specified VWAP-based performance milestones are met during any 100-day period between 2/12/2026 and 2/12/2030; vesting then subject to continued employment (50% soon after milestone, then 25% and 25% on subsequent anniversaries).
• Filing timeliness: Form 4 was filed on 2026-02-13 for transactions beginning 2026-02-11 — appears timely (Form 4 is typically due within two business days).

Context

• The sales were executed under a 10b5-1 plan, which indicates they were preplanned trades rather than ad-hoc insider selling; such plans are common and do not necessarily signal a change in insider sentiment.
• The RSUs are straightforward time‑based awards; the PSUs are contingent (derivative) awards tied to future stock-price performance and only convert to shares if the performance milestones and continued service conditions are met.