Truong Kristina 4

What Happened

• Kristina Truong, Enovix's Chief Accounting Officer, was credited with the vesting of performance restricted stock units (PRSUs) on February 18, 2026. Two PRSU awards vested: 24,116 PRSUs and 11,162 PRSUs, a combined 35,278 PRSUs, recorded at $0.00 per share (awards, not purchases), so no cash was paid.
• These PRSUs represent contingent rights to receive shares upon settlement. Per the filing, 50% of the 24,116 PRSUs will be released on April 1, 2027 and the remaining 50% on April 1, 2028; 50% of the 11,162 PRSUs will be released on April 8, 2027 and the remaining 50% on April 8, 2028.

Key Details

• Transaction date: February 18, 2026; Report filed: March 6, 2026 (appears late vs. the usual two-business-day Form 4 deadline).
• Price: $0.00 per share (award/vesting event), total cash consideration $0.
• Shares/rights reported after transaction: filing indicates rights to additional equity including 137,235 RSUs plus the vested 35,278 PRSUs and 2,489 PRSUs scheduled for release March 2, 2027 — totaling about 175,002 shares issuable upon settlement/release.
• Footnotes: F1 and F3 detail the vesting and staggered release schedule for the two sets of PRSUs; F2 summarizes total RSU/PRSU issuable amounts included in the reporting person’s holdings.
• No sale, purchase, tax withholding, or 10b5-1 plan was reported in this filing.

Context

• These were awards that vested based on performance criteria — not open-market buys or sales — so they reflect compensation realization rather than a direct trading sentiment. Each PRSU is a contingent right to one share of Enovix common stock that will be delivered according to the stated release schedule. The March 6 filing date is later than the typical two-business-day reporting window, which reduces immediate transparency but does not by itself indicate any misconduct.