Equinix (EQIX) Chief Accounting Officer Reports RSU Vesting and Partial Sale

Rhea-AI Filing Summary

Equinix, Inc. (EQIX) officer Simon Miller reported stock grant vesting and subsequent open-market sales. On 09/02/2025 Mr. Miller had three restricted stock unit (RSU) awards convert to common stock totaling 1,132 shares (437, 348, 347) and received an additional 0.066 share from the employee stock purchase plan. Over 09/03/2025 he sold 561.5 shares in multiple transactions at weighted-average prices ranging roughly from $751 to $770 per share. After these transactions the reporting person beneficially owned 6,875.566 shares. The RSUs vesting schedule is time-based, with incremental vesting every six months and expiration upon termination of service.

Positive

• Time-based RSUs vested, converting to 1,132 shares, demonstrating compensation tied to continued service
• Detailed disclosure of weighted-average sale prices and price ranges for the multiple sales provides transparency
• Reporting shows remaining meaningful ownership of 6,875.566 shares after sales

Negative

• Substantial open-market sales of 561.5 shares on 09/03/2025 at prices between roughly $751 and $770, reducing holdings
• Form reflects frequent small-lot sales across many price points which may complicate simple valuation or tax calculation for shareholders

Insights

Securities Analyst

TL;DR: Officer received time-vested RSUs then executed modest open-market sell-down at prevailing market prices.

Mr. Miller recognized three tranches of RSUs that converted to 1,132 shares on 09/02/2025, plus a fractional ESPP share. The following day he sold 561.5 shares across multiple price points between approximately $751 and $770, resulting in a remaining beneficial ownership of 6,875.566 shares. This pattern—time-based vesting followed by partial sales—aligns with common post-vesting liquidity actions by executives to diversify or satisfy tax obligations. The filing discloses weighted-average prices and provides ranges for the individual sale prices, enabling precise valuation if one multiplies share counts by the provided prices.

Corporate Governance Expert

TL;DR: Transactions appear routine and are supported by disclosed vesting schedules and sale price ranges; no governance red flags in filings.

The Form 4 shows time-based RSU vesting (16.67% installments every six months following specified vesting start dates) and subsequent open-market dispositions. The filing includes detailed footnotes on price ranges and confirms RSU expiration upon termination of service. There is a clear record of beneficial ownership before and after transactions, and the form is signed by a power of attorney. Based solely on the disclosure, this is a standard executive equity vesting and partial sale sequence without additional governance concerns identified in the document.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Miller Simon

(Last) (First) (Middle)

C/O EQUINIX, INC.

ONE LAGOON DRIVE

(Street)

REDWOOD CITY CA 94065

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EQUINIX INC [ EQIX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/02/2025		M		437	A	$0	6,742.066(1)	D
Common Stock	09/02/2025		M		348	A	$0	7,090.066	D
Common Stock	09/02/2025		M		347	A	$0	7,437.066	D
Common Stock	09/03/2025		S		6	D	$751.6412(2)	7,431.066	D
Common Stock	09/03/2025		S		6	D	$752.8136(3)	7,425.066	D
Common Stock	09/03/2025		S		6	D	$753.8695(4)	7,419.066	D
Common Stock	09/03/2025		S		8	D	$755.321(5)	7,411.066	D
Common Stock	09/03/2025		S		20	D	$756.4755(6)	7,391.066	D
Common Stock	09/03/2025		S		13	D	$757.3008(7)	7,378.066	D
Common Stock	09/03/2025		S		61	D	$758.5456(8)	7,317.066	D
Common Stock	09/03/2025		S		18	D	$759.5269(9)	7,299.066	D
Common Stock	09/03/2025		S		41	D	$760.6134(10)	7,258.066	D
Common Stock	09/03/2025		S		99	D	$761.5782(11)	7,159.066	D
Common Stock	09/03/2025		S		82	D	$762.5093(12)	7,077.066	D
Common Stock	09/03/2025		S		36	D	$763.4901(13)	7,041.066	D
Common Stock	09/03/2025		S		62	D	$764.6378(14)	6,979.066	D
Common Stock	09/03/2025		S		43.5	D	$765.4738(15)	6,935.566	D
Common Stock	09/03/2025		S		16	D	$766.5519(16)	6,919.566	D
Common Stock	09/03/2025		S		8	D	$767.2998(17)	6,911.566	D
Common Stock	09/03/2025		S		36	D	$770	6,875.566	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	$0	09/02/2025		M			437	(18)	(19)	Common Stock	437	$0	436	D
Restricted Stock Unit	$0	09/02/2025		M			348	(20)	(19)	Common Stock	348	$0	1,044	D
Restricted Stock Unit	$0	09/02/2025		M			347	(21)	(19)	Common Stock	347	$0	1,734	D

Explanation of Responses:

1. 0.066 shares acquired under the Equinix, Inc. Employee Stock Purchase Plan on August 14, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $751.29 to $752.23, inclusive. The reporting person undertakes to provide to Equinix, Inc, any security holder of Equinix Inc, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3 through 17 to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $752.375 to $753.35 inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $753.565 to $754.075 inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $754.92 to $755.90 inclusive.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $755.97 to $756.92 inclusive.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $756.98 to $757.905 inclusive.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $757.985 to $758.985 inclusive.

9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $759.02 to $760.02 inclusive.

10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $760.04 to $761.035 inclusive.

11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $761.045 to $762.04 inclusive.

12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $762.05 to $763.05 inclusive.

13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $763.055 to $764.04 inclusive.

14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $764.07 to $765.07 inclusive.

15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $765.10 to $766.06 inclusive.

16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $766.13 to $767.12 inclusive.

17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $767.26 to $767.49 inclusive.

18. Vesting is dependent upon continuous active service as an employee or director of the Company or a subsidiary of the Company (Service) throughout the vesting period. The Restricted Stock Units shall vest as follows: 16.67% of the RSUs vesting on September 1, 2023 and an additional 16.67% of the RSUs vesting every 6 months thereafter until fully vested.

19. Restricted stock unit award expires upon reporting person's termination of service.

20. Vesting is dependent upon continuous active service as an employee or director of the Company or a subsidiary of the Company (Service) throughout the vesting period. The Restricted Stock Units shall vest as follows: 16.67% of the RSUs vesting on September 1, 2024 and an additional 16.67% of the RSUs vesting every 6 months thereafter until fully vested..

21. Vesting is dependent upon continuous active service as an employee or director of the Company or a subsidiary of the Company (Service) throughout the vesting period. The Restricted Stock Units shall vest as follows: 16.67% of the RSUs vesting on September 1, 2025 and an additional 16.67% of the RSUs vesting every 6 months thereafter until fully vested..

	/s/ Samantha Lagocki, POA	09/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did EQIX officer Simon Miller report on Form 4?

He reported conversion of RSUs to common stock (1,132 shares) on 09/02/2025 and sales of 561.5 shares on 09/03/2025, leaving 6,875.566 shares beneficially owned.

How many restricted stock units vested for Simon Miller?

Three RSU awards vested and converted to common stock totaling 1,132 shares (437, 348, 347) on 09/02/2025.

At what prices were the shares sold?

Sales on 09/03/2025 were executed in multiple transactions with weighted-average prices reported and ranges disclosed approximately between $751.29 and $770 per share.

What is the remaining beneficial ownership after these transactions?

The filing reports 6,875.566 shares beneficially owned by the reporting person following the reported transactions.

Do the RSUs have service conditions or expiry?

Yes. Vesting is contingent on continuous service and vests 16.67% on specified dates with additional 16.67% every six months; RSU awards expire upon termination of service.