Baker Cary 4

What Happened
Cary Baker, Chief Financial Officer of Impinj (PI), had 1,076 restricted stock units (RSUs convertable to one share each) vest on June 23, 2026. The RSUs converted into shares at $0 exercise price; 424 of those shares were remitted to the company to satisfy tax withholding obligations totaling about $53,093. The remaining 652 shares were issued to Baker (net of withholding). The filing shows the RSU conversion entries as derivative exercises (code M) and the tax withholding as an exempt disposition to the issuer (code F).

Key Details

• Transaction date: June 23, 2026. Filing date: June 24, 2026 (timely).
• Conversion price: $0 per share (RSU conversion). Withholding price used: $125.22 per share.
• Shares involved: 1,076 RSUs vested (479 from a 3/23/2023 grant and 597 from a 3/23/2024 grant). 424 shares remitted for tax withholding (~$53,093); 652 shares delivered net.
• Gross value of vested shares at $125.22: ~ $134,737; net shares delivered value ~ $81,644.
• Footnotes: transaction was an exempt disposition to the issuer under Rule 16b-3(e); each RSU equals one share; vesting schedule notes one-sixteenth of each grant vested on 6/23/2026.
• Shares owned after the transaction: not stated in the filing.

Context
This was a routine equity-compensation vesting event, not an open-market sale or discretionary purchase. The surrender of shares to cover taxes is a common, administrative step (share withholding/cashless withholding) and does not necessarily signal a change in the insider’s view of the company.