Credo Technology Group (CRDO) CEO exercises 50K PSUs, 25,824 shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Credo Technology Group Holding Ltd’s President and CEO William Joseph Brennan exercised derivative awards and had shares withheld to cover taxes. On June 30, 2026, he exercised 50,000 Performance-Based Restricted Stock Units (PSUs) into Ordinary Shares and 19,675 of those shares were withheld at $271.95 per share to satisfy tax obligations.
On July 1, 2026, an additional 6,149 Ordinary Shares were withheld at $259.09 per share for tax withholding, leaving him with 372,629 Ordinary Shares held directly. A separate holding entry shows 1,767,502 Ordinary Shares held indirectly through The Brennan Family Trust, DTD 09/06/2002, for which he disclaims beneficial ownership except to the extent of his pecuniary interest. Footnotes also note that each PSU represents a right to one Ordinary Share upon achieving a $116 stock price hurdle on each of June 30, 2026, June 30, 2027 and June 30, 2028, and that his reported holdings include an acquisition of 801 shares under the employee stock purchase plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
50,000 shares exercised/converted
Mixed
5 txns
Insider
Brennan William Joseph
Role
Pres & Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Ordinary Shares | 6,149 | $259.09 | $1.59M |
| Exercise | Performance-Based Restricted Stock Units | 50,000 | $0.00 | -- |
| Exercise | Ordinary Shares | 50,000 | $0.00 | -- |
| Tax Withholding | Ordinary Shares | 19,675 | $271.95 | $5.35M |
| holding | Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Ordinary Shares — 372,629 shares (Direct, null);
Performance-Based Restricted Stock Units — 150,000 shares (Direct, null);
Ordinary Shares — 1,767,502 shares (Indirect, The Brennan Family Trust, DTD 09/06/2002)
Footnotes (1)
- 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. The number of securities reported includes the acquisition on June 30, 2026 of 801 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 July 1, 2024. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of PSUs. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
Key Figures
PSUs exercised: 50,000 units
Shares withheld for taxes (total): 25,824 shares
Tax withholding price 1: $271.95 per share
+5 more
8 metrics
PSUs exercised
50,000 units
Performance-Based Restricted Stock Units converted to Ordinary Shares on June 30, 2026
Shares withheld for taxes (total)
25,824 shares
Tax withholding related to PSU and RSU vesting on June 30 and July 1, 2026
Tax withholding price 1
$271.95 per share
Price used for 19,675 withheld Ordinary Shares on June 30, 2026
Tax withholding price 2
$259.09 per share
Price used for 6,149 withheld Ordinary Shares on July 1, 2026
Direct holdings after July 1, 2026
372,629 shares
Ordinary Shares held directly following the July 1, 2026 tax withholding
Indirect trust holdings
1,767,502 shares
Ordinary Shares held by The Brennan Family Trust, DTD 09/06/2002
Remaining PSUs
150,000 units
Performance-Based Restricted Stock Units remaining after the 50,000-unit exercise
Stock price hurdle
$116 per share
PSU performance condition measured on June 30, 2026, 2027 and 2028
Key Terms
Performance-Based Restricted Stock Unit, employee stock purchase plan, tax withholding obligations, RSUs, +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 of the Issuer..."
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.
employee stock purchase plan financial
"The number of securities reported includes the acquisition on June 30, 2026 of 801 shares... 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."
RSUs financial
"Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of RSUs."
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein."
FAQ
What insider transaction did Credo (CRDO) CEO William Brennan report?
William Brennan reported exercising 50,000 Performance-Based Restricted Stock Units into Ordinary Shares, with a total of 25,824 shares withheld to satisfy tax obligations. These are compensation-related events rather than open-market purchases or sales, and he retains substantial direct and indirect share holdings.
What are William Brennan’s performance-based restricted stock units (PSUs) at Credo (CRDO)?
Each Performance-Based Restricted Stock Unit represents a contingent right to receive one Ordinary Share if a $116 stock price hurdle is achieved on June 30, 2026, June 30, 2027 and June 30, 2028. The filing shows a 50,000-unit exercise and 150,000 PSUs remaining afterward.