Baig Saqib 4
4 · PELOTON INTERACTIVE, INC. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Peloton (PTON) CAO Baig Saqib Exercises RSUs, Sells Shares
What happened
- Baig Saqib, Peloton's Chief Accounting Officer, had multiple RSU settlements (reported as derivative exercises) that resulted in the acquisition/settlement of 80,034 shares on Feb 15, 2026. Following the settlements, he sold 36,640 shares in open-market transactions (30,918 shares on Feb 17 at a weighted avg $4.14 and 5,722 shares on Feb 18 at $4.31) for total gross proceeds of about $152,588. The derivative transactions are reported at $0 (typical for RSU settlements) and some of the settled shares were immediately disposed to cover tax obligations.
Key details
- Transaction types: M = exercise/conversion of RSUs (80,034 shares acquired/settled); S = open-market sale (36,640 shares sold).
- Sale dates & prices: Feb 17, 2026 — 30,918 shares at weighted avg $4.14 (range $4.11–$4.215); Feb 18, 2026 — 5,722 shares at $4.31. Total proceeds ≈ $152,588.
- Purpose of sales: Reported as solely to cover the reporting person’s tax liability related to RSU settlement (tax withholding).
- Trading plan: Sales were executed under a Rule 10b5-1 plan adopted Sept 2, 2025.
- RSU mechanics: Each RSU converts to one share; multiple RSU grants with staggered vesting schedules (various grants vesting between 2023–2028 as noted).
- Shares owned after transaction: Not specified in the provided filing summary.
- Filing timeliness: Form 4 filed Feb 18, 2026; covering settlements on Feb 15 and sales on Feb 17–18 — filing appears timely under Form 4 rules.
Context
- These filings reflect RSU settlements and routine sell-to-cover tax withholding rather than an open-market purchase. Reporting shows immediate disposition of some or all settled shares to satisfy tax obligations (cashless settlement behavior). The presence of a 10b5-1 plan indicates the sales were pre-planned and not ad hoc trading.
Insider Transaction Report
Form 4
Baig Saqib
Chief Accounting Officer
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-02-15+19,973→ 190,638.47 total - Exercise/Conversion
Class A Common Stock
[F1]2026-02-15+7,500→ 198,138.47 total - Exercise/Conversion
Class A Common Stock
[F1]2026-02-15+10,302→ 208,440.47 total - Exercise/Conversion
Class A Common Stock
[F1]2026-02-15+24,761→ 233,201.47 total - Exercise/Conversion
Class A Common Stock
[F1]2026-02-15+17,498→ 250,699.47 total - Sale
Class A Common Stock
[F2][F3]2026-02-17$4.14/sh−30,918$127,945→ 219,781.47 total - Sale
Class A Common Stock
[F4]2026-02-18$4.31/sh−5,722$24,643→ 214,059.47 total - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F5]2026-02-15−19,973→ 59,919 total→ Class A Common Stock (19,973 underlying) - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F6]2026-02-15−7,500→ 45,000 total→ Class A Common Stock (7,500 underlying) - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F7]2026-02-15−10,302→ 82,418 total→ Class A Common Stock (10,302 underlying) - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F8]2026-02-15−24,761→ 49,523 total→ Class A Common Stock (24,761 underlying) - Exercise/Conversion
Restricted Stock Unit (RSU)
[F1][F9]2026-02-15−17,498→ 174,978 total→ Class A Common Stock (17,498 underlying)
Footnotes (9)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock.
- [F2]The sale of shares is for the sole purpose of covering the Reporting Person's tax liability with respect to the settlement of RSUs.
- [F3]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.1100 to $4.2150 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 2, 2025.
- [F5]The RSU vests as to 25% of the total shares on November 15, 2023, then 6.25% of the total shares vest quarterly with 100% of the total shares vested on November 15, 2026, subject to the reporting person's provision of service to the issuer on each vesting date.
- [F6]The RSUs vest as to 6.25% of the total shares quarterly, commencing November 15, 2023, with 100% of the total shares vested on August 15, 2027, subject to the reporting person's provision of service to the issuer on each vesting date.
- [F7]The RSUs vest as to 6.25% of the total shares quarterly, commencing May 15, 2024, with 100% of the total shares vested on February 15, 2028, subject to the reporting person's provision of service to the issuer on each vesting date.
- [F8]The RSUs vest as to 12.50% of the total shares quarterly, commencing November 15, 2024, with 100% of the total shares vested on August 15, 2026, subject to the reporting person's provision of service to the issuer on each vesting date.
- [F9]The RSUs vest as to 1/12 of the total shares on November 15, 2025, then 1/12 of the total shares vest quarterly thereafter, with 100% of the total shares vested on August 15, 2028, subject to the Reporting Person's provision of service to the issuer on each vesting date.
Signature
/s/ Tammy Albarran as attorney-in-fact for Saqib Baig|2026-02-18