F5 (FFIV) EVP Angelique Okeke Exercises RSUs, Sells 515 Shares

What Happened

• Angelique Okeke, EVP and General Counsel of F5, had 1,060 restricted stock units (RSUs) vest on Aug 1, 2026 (conversion reported as derivative exercise, no cash exercise price).
• Of the vested shares, 415 were withheld to satisfy tax withholding at $402.57 per share (value $167,067) and 515 shares were sold in the open market on Aug 3, 2026 at $404.49 per share for proceeds of $208,315. After withholding and sale, 130 shares from this vesting event were retained.
• These actions are routine equity-compensation events (vesting/withholding) plus a planned sale; sales do not necessarily indicate a change in view on the company.

Key Details

• Transaction dates & prices:
  • Aug 1, 2026: 1,060 RSUs vested (conversion reported at $0 per share).
  • Aug 1, 2026: 415 shares withheld for taxes at $402.57 each (tax value $167,067).
  • Aug 3, 2026: 515 shares sold open market at $404.49 each (proceeds $208,315).
• Net retained from this vesting: 130 shares. The filing does not disclose Ms. Okeke’s total company holdings after these transactions.
• Notable footnotes:
  • RSUs represent the contingent right to receive one share on the vest date (footnotes F1, F3).
  • The open‑market sale was executed pursuant to a pre-established Rule 10b5‑1 trading plan dated 10/30/2025 (footnote F2).
  • Other footnotes describe the multi‑grant vesting schedules for awards from 2024–2025 (F4–F8).
• Transaction codes explained: M = exercise/conversion of derivative (RSU vesting); F = shares surrendered/withheld to cover tax liability; S = open‑market sale.
• Filing timeliness: Reported on Aug 4, 2026 for transactions on Aug 1–3, 2026 — within the standard Form 4 filing window (timely).

Context

• These were RSU vesting events (no cash paid to acquire shares). A portion of vested shares was used to cover tax withholding and another portion sold under a pre-set 10b5‑1 plan (a routine mechanism that executes trades according to a plan set up earlier).
• For retail investors: vesting + planned sales are common for executives to cover tax bills and diversify; they are procedural and not direct evidence of a change in the executive’s view of the company.