Caldwell Nick V. 4

What Happened

Nick V. Caldwell, Peloton's Chief Product Officer, had 115,741 Restricted Stock Units (RSUs) settle on March 15, 2026 (conversion of a derivative into shares). Following the settlement, he sold 42,632 shares in an open-market sale on March 16, 2026 at a weighted average price of $3.86, for proceeds of approximately $164,768. The filing also reports the RSU conversion/disposition tied to the settlement (reported at $0), which reflects the RSU settlement/withholding mechanics.

Key Details

• Transaction types: RSU settlement/exercise (derivative conversion) and open-market sale.
• RSUs settled: 115,741 shares (reported 2026-03-15).
• Shares sold: 42,632 shares on 2026-03-16 at a weighted average price of $3.86; total proceeds ≈ $164,768. Price per share range reported $3.8450–$3.9050.
• Purpose of sale: Footnote states the sale was "for the sole purpose of covering the Reporting Person's tax liability" related to RSU settlement.
• Filing timing: Form 4 filed 2026-03-17 for transactions on 3/15–3/16; no late filing is indicated in the report.
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Relevant footnotes: F1 (each RSU = one share), F2 (sale to cover taxes), F3 (weighted avg price range; detailed breakdown available on request), F4 (original RSU vesting schedule).

Context

This was an RSU settlement with a subsequent sale to meet tax obligations — a routine, non-informational insider sale rather than an opportunistic market purchase. The derivative code (M) denotes conversion/settlement of RSUs into shares; because some or all shares are commonly withheld or sold to satisfy taxes at vesting, such transactions often do not signal a change in insider sentiment about the company.