Combes Michel 4

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.