Credo CFO exercises PSUs; shares withheld for tax
Credo Technology Group Holding Ltd Chief Financial Officer Daniel W. Fleming reported equity award activity involving Performance-Based Restricted Stock Units and related tax withholding.
Rhea-AI Filing Summary
Credo Technology Group Holding Ltd Chief Financial Officer Daniel W. Fleming reported equity award activity involving Performance-Based Restricted Stock Units and related tax withholding. On June 30, 2026, he exercised 25,000 Performance-Based Restricted Stock Units into 25,000 Ordinary Shares following achievement of a stock price hurdle condition.
To cover tax obligations on vested PSUs and RSUs, the issuer withheld 9,838 Ordinary Shares on June 30, 2026 at $271.95 per share and 2,460 Ordinary Shares on July 1, 2026 at $259.09 per share, both reported as tax-withholding dispositions rather than market sales. After these transactions, Fleming directly owned 514,748 Ordinary Shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
25,000 shares exercised/converted
Exercise
4 txns
Insider
Fleming Daniel W.
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Ordinary Shares | 2,460 | $259.09 | $637K |
| Exercise | Performance-Based Restricted Stock Units | 25,000 | $0.00 | $0.00 |
| Exercise | Ordinary Shares | 25,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Ordinary Shares | 9,838 | $271.95 | $2.68M |
Holdings After Transaction:
Performance-Based Restricted Stock Units — 75,000 contracts (Direct);
Ordinary Shares — 514,748 shares (Direct)
Footnotes (4)
- F1. Each Performance-Based Restricted Stock Unit ("PSU") represents a contingent right to receive one Ordinary Share of the Issuer upon the achievement of a $116 stock price hurdle performance condition as measured on each of June 30, 2026, June 30, 2027 and June 30, 2028.
- F2. The number of securities reported includes the acquisition on June 30, 2026 of 173 shares of the Issuer's common stock pursuant to the Issuer's employee stock purchase plan for the purchase period of January 1, 2026 through July 1, 2026. In accordance with the Issuer's employee stock purchase plan, these shares were purchased based on 85% of the grant date fair market value of a share on December 31, 2025.
- F3. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs.
- F4. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs.
Key Figures
PSUs exercised: 25,000 shares
Tax withholding June 30: 9,838 shares at $271.95/share
Tax withholding July 1: 2,460 shares at $259.09/share
+4 more
7 metrics
PSUs exercised
25,000 shares
Performance-Based Restricted Stock Units converted to Ordinary Shares on June 30, 2026
Tax withholding June 30
9,838 shares at $271.95/share
Ordinary Shares withheld to satisfy tax obligations on June 30, 2026
Tax withholding July 1
2,460 shares at $259.09/share
Ordinary Shares withheld to satisfy tax obligations on July 1, 2026
Total shares withheld for taxes
12,298 shares
Aggregate Ordinary Shares withheld across June 30 and July 1, 2026
Post-transaction Ordinary Shares
514,748 shares
Directly owned by Daniel Fleming after reported transactions
ESPP shares acquired
173 shares
Ordinary Shares acquired under employee stock purchase plan on June 30, 2026
PSU stock price hurdle
$116
Stock price condition for PSU performance measurement dates
Key Terms
Performance-Based Restricted Stock Unit, stock price hurdle performance condition, employee stock purchase plan, tax withholding obligations, +1 more
5 terms
Performance-Based Restricted Stock Unit financial
"Each Performance-Based Restricted Stock Unit ("PSU") represents a contingent right to receive one Ordinary Share"
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
stock price hurdle performance condition financial
"upon the achievement of a $116 stock price hurdle performance condition as measured on each of June 30, 2026, June 30, 2027 and June 30, 2028"
employee stock purchase plan financial
"acquisition on June 30, 2026 of 173 shares of the Issuer's common stock pursuant to the Issuer's employee stock purchase plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
tax withholding obligations financial
"Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs."
Restricted Stock Units (RSUs) financial
"Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
FAQ
What did Credo Technology Group (CRDO) CFO Daniel Fleming report in this Form 4?
Daniel Fleming reported exercising 25,000 Performance-Based Restricted Stock Units into Ordinary Shares and related tax-withholding share dispositions. These transactions reflect equity compensation vesting and associated tax payments, not open-market share purchases or sales.
Are the Credo Technology Group (CRDO) Form 4 transactions open-market sales?
No, the reported dispositions are tax-withholding transactions. Shares were withheld by the issuer to satisfy tax obligations upon vesting and settlement of PSUs and RSUs, rather than being sold by Fleming in open-market trades.
How do the Credo Technology Group (CRDO) Performance-Based Restricted Stock Units work?
Each Performance-Based Restricted Stock Unit represents a right to receive one Ordinary Share if a $116 stock price hurdle is achieved on specified dates, including June 30, 2026, June 30, 2027, and June 30, 2028, according to the award’s performance conditions.
Did the Credo Technology Group (CRDO) Form 4 mention the employee stock purchase plan?
Yes, a footnote states Fleming’s reported holdings include 173 shares acquired on June 30, 2026 under the employee stock purchase plan for the period January 1, 2026 through July 1, 2026, purchased at 85% of the December 31, 2025 grant-date fair value.
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