Cotter Jennifer Cunningham 4

What Happened

Jennifer Cotter, Peloton's Chief Content Officer, had multiple RSU grants vest and converted those awards into a total of 279,929 shares on Feb 15, 2026 (reported as derivative exercises). Portions of the shares were used to satisfy tax withholding and she sold 125,432 shares in the open market on Feb 17, 2026 at a weighted average price of $4.15, generating proceeds of approximately $519,966. The filing’s footnotes state the sale was for the sole purpose of covering the tax liability related to RSU settlement.

Key Details

• Transaction types: conversion/settlement of RSUs (derivative code M) on 2026-02-15; open-market sale (S) on 2026-02-17.
• RSU conversion totals: 279,929 shares converted across multiple grants (individual conversion amounts listed in filing).
• Open-market sale: 125,432 shares sold at a weighted average price of $4.15; price range reported $4.0950–$4.2100; proceeds ≈ $519,966.
• Tax withholding: the filing shows shares withheld/disposed at $0 (derivative disposals) to cover tax obligations; footnote F2 confirms the sale was to cover tax liability.
• Vesting notes: several RSU grants had quarterly vesting schedules with some grants fully vesting Feb 15, 2026 (see footnotes F4–F9 for grant-by-grant schedules).
• Shares owned after transaction: not stated in the excerpt of the filing provided.
• Filing date: Feb 18, 2026 (appears timely relative to the reported transactions).

Context

• Code M here reflects settlement/conversion of RSUs (each RSU = right to one share per footnote F1). The sequence—vest/convert, shares withheld for taxes, and an open-market sale—is a common “sell-to-cover” pattern used to satisfy tax liabilities when RSUs vest.
• This was a sale (not a purchase). Such routine tax-related sales are common and do not necessarily indicate the insider’s view on the company’s prospects.