Baig Saqib 4

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.