EQIX Form 4: Director Li Yanbing receives 255 restricted stock units

Rhea-AI Filing Summary

Li Yanbing, a director of Equinix, Inc. (EQIX), was granted 255 restricted stock units (RSUs) on 08/12/2025. The RSUs carry no purchase price and are reported as 255 shares of common stock beneficially owned following the grant. The award vests on the earlier of May 21, 2026 or the date of the company’s next annual stockholder meeting if the reporting person does not stand for re-election, provided the reporting person remains in continuous service through vesting. The RSUs expire if the reporting person’s service terminates. The Form 4 was signed by a power of attorney on 08/14/2025.

Positive

• Alignment with shareholders: RSUs tie director compensation to company equity, aligning interests with shareholders
• Clear vesting and forfeiture terms: Vesting based on service and election schedule, with expiration on termination, provides transparent conditions

Negative

• Limited economic size disclosed: Only 255 RSUs granted, representing a modest ownership stake; materiality to investors is likely low
• No broader context provided: Filing does not disclose existing total holdings beyond the 255 RSUs or how this grant fits the director’s overall compensation

Insights

Securities & Compensation Analyst

TL;DR: A director received a small, typical equity retention award: 255 RSUs vesting contingent on service and re-election timeline.

The grant of 255 RSUs at $0 is a non-cash, service-conditioned equity award commonly used to align director incentives with shareholders. The vesting schedule ties the award to continued service and the next annual meeting timeline, which is standard for board retention and re-election cycles. The reported post-transaction beneficial ownership of 255 shares is limited, implying the grant is modest relative to typical director compensation benchmarks; materiality cannot be determined from this filing alone.

Corporate Governance Expert

TL;DR: Governance structure appears standard: award links to service and re-election, with expiration on termination.

The RSU terms explicitly condition vesting on continuous service and link an alternative vesting trigger to the company’s stockholder meeting timing if the director does not stand for re-election. The expiration upon termination is a routine forfeiture clause. The filing shows procedural compliance with Section 16 disclosure requirements via Form 4 and POA signature; no governance red flags or unusual terms are disclosed in this 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

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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^*

Li Yanbing

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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

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 Units	$0	08/12/2025		A		255		(1)	(2)	Common Stock	255	$0	255	D

Explanation of Responses:

1. The Restricted Stock Units shall vest on the earlier of (i) May 21, 2026 or (ii) if the reporting person does not stand for re-election as a director of the Company, the date of the regular meeting of the Company's stockholders held in the calendar year subsequent to the grant date; provided that, in either case, the reporting person remains in continuous Service through such vesting date.

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

	/s/ Samantha Lagocki, POA	08/14/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who filed the Form 4 for Equinix (EQIX)?

The filing reports transactions by Li Yanbing, identified as a director of Equinix, with the form signed by a power of attorney on 08/14/2025.

What security was reported on the Form 4 for EQIX?

The report covers 255 Restricted Stock Units (RSUs) granted on 08/12/2025, recorded as 255 shares of common stock beneficially owned.

When do the RSUs vest according to the filing?

The RSUs vest on the earlier of May 21, 2026 or the date of the regular stockholder meeting in the calendar year after the grant if the reporting person does not stand for re-election, subject to continuous service.

Is there a purchase price for the RSUs?

No. The RSUs are reported with a conversion/exercise price of $0.

What happens to the RSUs if the director leaves service?

The filing states the restricted stock unit award expires upon the reporting person’s termination of service.