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F5, INC.·4

Mar 13, 6:01 PM ET

Combes Michel 4

4 · F5, INC. · Filed Mar 13, 2026

Research Summary

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F5 (FFIV) Director Michel Combes Exercises Derivative, Receives RSUs

What Happened
Michel Combes, a director of F5, Inc. (FFIV), reported two related transactions. On 2026-03-11 he recorded an exercise/conversion of a derivative for 934 shares (reported as both acquired and disposed) at $0.00 per share (total $0). On 2026-03-12 he was granted 987 restricted stock units (RSUs) at $0.00 (total $0), which are derivative awards that will convert to common shares if and when they vest.

Key Details

  • Transaction dates and types: 2026-03-11 — Exercise/Conversion of derivative (Form 4 code M) for 934 shares (acquired and disposed) at $0.00; 2026-03-12 — Grant/Award (code A) of 987 RSUs at $0.00.
  • Reported dollar values: all transactions reported with $0.00 per share (total $0).
  • Shares owned after transaction: not stated in the provided data. (Filing may include total holdings elsewhere.)
  • Relevant footnotes: F1 defines an RSU as a contingent right to one share on vesting; F2/F4/F3 explain vesting is tied to continued service and to the first business day prior to the annual shareholder meetings for fiscal years 2025 and 2026.
  • Filing timeliness: Form filed 2026-03-13 for transactions on 2026-03-11 and 2026-03-12; filing appears timely based on standard two-business-day reporting requirements.

Context

  • The Form 4 code M denotes an exercise or conversion of a derivative security; code A denotes an award/grant. The filing shows both an acquisition and a disposition of 934 shares on 3/11 (the filing does not state any cash proceeds).
  • The 987 RSUs are future contingent awards: they convert to shares only if the vesting conditions (continued service and the specified meeting-based vest date) are met. Such grants are common for directors and do not by themselves indicate a near-term open-market purchase or sale.

Insider Transaction Report

Form 4
Period: 2026-03-11
F5, INC.FFIV
Combes Michel
Director
Transactions
  • Exercise/Conversion

    Common Stock

    2026-03-11+934→ 5,805 total
  • Exercise/Conversion

    Restricted Stock Unit

    [F1][F2][F3]
    2026-03-11−934→ 0 total
    Exercise: $0.00→ Common Stock (934 underlying)
  • Award

    Restricted Stock Unit

    [F1][F4][F3]
    2026-03-12+987→ 987 total
    Exercise: $0.00→ Common Stock (987 underlying)
Footnotes (4)
  • [F1]Each Restricted Stock Unit represents a contingent right to receive one share of F5, Inc. Common Stock on the vest date.
  • [F2]Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2025 (to be held in 2026) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.
  • [F3]If the reporting person continues to provide services to the Company through the vest date, the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.
  • [F4]Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2026 (to be held in 2027) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.
Signature
/s/ Angelique M. Okeke by Power of Attorney|2026-03-13

Documents

1 file
  • 4
    wk-form4_1773439306.xmlPrimary

    FORM 4