Mueller Brian 4

What Happened
Brian Mueller, Chief Financial Officer of BioMarin Pharmaceutical (BMRN), was certified on Feb 25, 2026 as having earned three performance-based restricted stock unit (RSU) awards totaling 16,482 RSUs (6,683; 7,230; 2,569). The Form 4 reports these as awards/acquisitions at a reported price of $0.00 (grant), i.e., no cash paid at grant. The RSUs convert on a 1:1 basis to common shares when they vest.

Key Details

• Transaction date: 2026-02-25 (Form 4 filed 2026-02-26 — appears timely). Transaction code: A (award/grant). Reported price per share: $0.00. Total RSUs: 16,482.
• Vesting: RSUs were earned (certified) but vest on March 15, 2026, subject to Mueller’s continued service through that date and certain acceleration events (see footnote F3).
• Why earned: Awards are performance-based — portions were earned based on relative total shareholder return (F2), development goals achieved (F4), and core operating margin metrics (F5) covering 2023–2025.
• Conversion: RSUs convert 1:1 into common stock when vested (F1).
• Shares owned after transaction: not stated in the provided filing excerpt.
• No sale or exercise reported — these are awards, not an open-market purchase or disposition.

Context
Performance-based RSUs reflect formulaic payouts tied to company metrics and are different from open-market purchases or sales. They don’t by themselves indicate an insider’s near-term buying or selling intent; they represent compensation earned under pre-established plans and will only become marketable shares if/when they vest (and any applicable tax withholding is satisfied).