Equinix (EQIX) chief reports stock sales, new RSU grants and vesting

Rhea-AI Filing Summary

Equinix Chief Customer & Revenue Officer Michael Shane Paladin reported a mix of stock sales and awards. On February 18, he sold a total of 673 shares of Equinix common stock in multiple open-market transactions at prices generally in the mid-$900s per share, leaving him with 1,969.485 directly held shares. A footnote explains these sales were made under a 10b5‑1 trading plan to raise cash to cover required withholding taxes from vesting restricted stock units. On February 17, he received 3,252 new restricted stock units and 1,626 restricted stock units converted into the same number of common shares. A footnote also notes that 64.485 shares were acquired earlier through the Equinix employee stock purchase plan, and that a 2025 performance-based RSU grant is scheduled to vest in stages through February 2028.

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

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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).

X

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^*

Paladin Michael Shane

(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 Customer & Rev Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		M		1,626	A	$0	2,642.485(1)	D
Common Stock	02/18/2026		S(2)		80	D	$927.065(3)	2,562.485	D
Common Stock	02/18/2026		S(2)		173	D	$928.005(4)	2,389.485	D
Common Stock	02/18/2026		S(2)		60	D	$930.37	2,329.485	D
Common Stock	02/18/2026		S(2)		40	D	$932.08	2,289.485	D
Common Stock	02/18/2026		S(2)		80	D	$934.27	2,209.485	D
Common Stock	02/18/2026		S(2)		40	D	$938.94	2,169.485	D
Common Stock	02/18/2026		S(2)		40	D	$940.1	2,129.485	D
Common Stock	02/18/2026		S(2)		40	D	$941.58	2,089.485	D
Common Stock	02/18/2026		S(2)		80	D	$942.765(5)	2,009.485	D
Common Stock	02/18/2026		S(2)		40	D	$948.3	1,969.485	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	02/17/2026		A		3,252		(6)	(7)	Common Stock	3,252	$0	3,252	D
Restricted Stock Unit	$0	02/17/2026		M			1,626	(6)	(7)	Common Stock	1,626	$0	1,626	D

Explanation of Responses:

1. 64.485 shares acquired under the Equinix, Inc. Employee Stock Purchase Plan on February 13, 2026.

2. Shares were sold pursuant to a 10b5-1 Trading Plan in order to raise funds to pay the required withholding tax pursuant to the vesting of RSUs.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $926.92 to $927.21, 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 4 and 5 to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $928.00 to $928.29 inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $942.64 to $942.89 inclusive.

6. On March 11, 2025 the reporting person was granted performance restricted stock units, the vesting of which was subject to both continued service and the attainment of certain AFFO, Revenue and EBITDA targets for 2025. The Compensation Committee certified the degree to which the targets were achieved, therefore 50% of the award vested on February 15, 2026, 25% will vest on February 15, 2027 and the remaining 25% will vest on February 15, 2028, subject solely to continued service.

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

	/s/ Samantha Lagocki, POA	02/19/2026
	** 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).
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FAQ

What did Equinix (EQIX) executive Michael Shane Paladin report in this Form 4?

He reported a combination of stock sales and equity awards. He sold 673 Equinix common shares in open-market trades and reported new restricted stock units and conversions into common stock, along with previously acquired shares under the employee stock purchase plan.

How many Equinix (EQIX) shares did Michael Shane Paladin sell and at what price range?

He sold 673 common shares in multiple open-market transactions. Footnotes state weighted average sale prices with ranges including $926.92–$927.21, $928.00–$928.29, and $942.64–$942.89 per share, reflecting several small trades executed within narrow price bands.

Why were Michael Shane Paladin’s Equinix (EQIX) shares sold under a 10b5-1 plan?

The filing states the shares were sold under a 10b5‑1 trading plan to raise funds to pay required withholding taxes. Those taxes arose from the vesting of restricted stock units, so the sales functioned as a tax‑coverage mechanism rather than a discretionary liquidation.

What new equity awards did Michael Shane Paladin receive from Equinix (EQIX)?

He received 3,252 new restricted stock units and exercised 1,626 restricted stock units into 1,626 common shares. These awards increase his equity-based compensation and are tied to continued service and previously established performance conditions set for a prior performance RSU grant.

How many Equinix (EQIX) shares does Michael Shane Paladin own after these transactions?

After the reported trades, he directly holds 1,969.485 shares of Equinix common stock. He also holds 3,252 restricted stock units outstanding, which may convert into shares over time as vesting conditions related to service and prior performance targets are satisfied.

What is the vesting schedule for Michael Shane Paladin’s performance RSUs at Equinix (EQIX)?

A footnote explains that a performance RSU grant made on March 11, 2025 vested 50% on February 15, 2026 after targets were certified. An additional 25% will vest on February 15, 2027 and the final 25% on February 15, 2028, subject to continued service.