GLOBALFOUNDRIES (GFS) CAO Gregory Pedersen Withholds Shares for Taxes

What Happened
Gregory Johnson Pedersen, Chief Accounting Officer of GLOBALFOUNDRIES (GFS), had restricted stock units (RSUs) vest and settle on July 31, 2026. A total of 8,328 RSUs settled into 8,328 ordinary shares; the company withheld 2,029 of those shares to satisfy tax-withholding obligations (reported as dispositions). The withheld shares were recorded at $49.89 per share, totaling about $101,227. Net shares delivered to Pedersen after withholding were 6,299 shares.

Key Details

• Transaction date: July 31, 2026; Form 4 filed August 4, 2026 (timely within the 2-business-day requirement).
• Dispositions (tax withholding): 1,268 shares @ $49.89 = $63,261; 761 shares @ $49.89 = $37,966; total withheld value ≈ $101,227.
• Gross RSUs settled: 5,205 shares (footnote F1) and 3,123 shares (footnote F2) = 8,328 shares settled.
• Net shares received by insider after withholding: 6,299 shares. Withholding rate ≈ 24.4% (2,029/8,328).
• Footnote F3: Filing also discloses 42,186 RSUs subject to future vesting per a stated schedule (unvested contingent awards).
• Footnote F4: The reported dispositions are tax-withholding by the issuer (code F), not open-market sales.

Context
This was not an open-market sale or purchase but a routine cashless withholding to cover taxes when RSUs vested. Such withholdings are administrative and do not necessarily signal the insider's view on the company.