Sundaram Mani 4

What Happened

• Sundaram Mani, EVP and GM, Security at Akamai (AKAM), had performance-based restricted stock units (PRSUs) certified on Feb 19, 2026 following the company's 2025 financial results. Portions of multiple PRSU awards were earned (4,114; 3,801; and 5,579 shares were reported as earned), and a conversion/vesting event resulted in 10,313 shares converting from PRSU derivatives into common stock.
• As part of the vesting, 3,291 shares were withheld to satisfy tax withholding at $109.31 per share, totaling $359,739. The transactions include award/grant entries (code A), conversion/exercise of derivatives (code M), and a tax-withholding disposition (code F).

Key Details

• Transaction date: Feb 19, 2026 (reported Feb 20, 2026).
• Shares reported earned on certification: 4,114 (2023 grant), 3,801 (2024 grant), 5,579 (2025 grant). Conversion/vesting recorded for 10,313 shares (from the 2023 PRSU grant per footnote).
• Tax withholding: 3,291 shares withheld at $109.31/share = $359,739 (code F, sell-to-cover style withholding).
• Shares owned after the transaction: not specified in the filing (filing lists holdings "as of Feb 19, 2026" but does not provide a post-transaction total).
• Footnotes: awards are PRSUs contingent on multi-year financial targets (grants dated Mar 6, 2023; Mar 4, 2024; Mar 3, 2025). The Feb 19 certification triggered additional earned amounts; some PRSUs will not fully vest until future-year certifications per the grant terms.
• Filing timeliness: Form 4 was filed the day after the transactions (appears timely; no late filing flag indicated).

Context

• PRSUs are performance-contingent awards that convert to shares when targets are met; conversion and share-withholding for taxes is a routine administrative step (often called sell-to-cover) and does not necessarily signal insider sentiment.
• Transaction codes: A = award/grant, M = exercise/conversion of derivative (PRSUs converting to shares), F = payment of exercise price or tax liability (withheld shares).