F5 (FFIV) director Michel Combes exercises RSUs and receives new 987-unit grant

Rhea-AI Filing Summary

F5, Inc. director Michel Combes reported equity compensation activity. On March 11, 2026, he exercised 934 restricted stock units, receiving 934 shares of common stock at a conversion price of $0.00 per share, bringing his direct common stock holdings to 5,805 shares.

On March 12, 2026, he received a grant of 987 restricted stock units. Each unit represents a right to one share of F5 common stock. According to the award terms, these units will fully vest on the first business day before the fiscal 2026 annual shareholder meeting (to be held in 2027), provided he continues serving as a director through the vest date.

Insights

Insider transactions and governance analyst

Director received routine RSU grant and exercised prior award, with no share sales.

Michel Combes, a director of F5, Inc., acquired equity through a standard compensation grant and an exercise of existing restricted stock units. All transactions were non-cash at a conversion price of $0.00 and involved no open-market buying or selling.

The filing shows 934 RSUs converted into common shares and a new grant of 987 RSUs that vest before the fiscal 2026 annual shareholder meeting, contingent on continued board service. This pattern reflects routine director compensation rather than an active trading decision.

With 5,805 common shares held directly following the exercise, the activity represents a modest change in his visible position. There is no indication of a Rule 10b5-1 trading plan or any disposition, so the economic impact is limited to additional equity exposure and future vesting potential.

Insider Trade Summary

934 shares exercised/converted

Mixed 3 txns

Insider Combes Michel

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	987	$0.00	--
Exercise	Restricted Stock Unit	934	$0.00	--
Exercise	Common Stock	934	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 987 shares (Direct); Common Stock — 5,805 shares (Direct)

Footnotes (1)

1. Each Restricted Stock Unit represents a contingent right to receive one share of F5, Inc. Common Stock on the vest date. Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2025 (to be held in 2026) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date. If the reporting person continues to provide services to the Company through the vest date, the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date. Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2026 (to be held in 2027) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Combes Michel

(Last) (First) (Middle)

C/O F5, INC.

801 5TH AVENUE

(Street)

SEATTLE WA 98104

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
F5, INC. [ FFIV ]

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)
03/11/2026

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	03/11/2026		M		934	A	$0	5,805	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(1)	$0	03/11/2026		M			934	(2)	(3)	Common Stock	934	$0	0	D
Restricted Stock Unit(1)	$0	03/12/2026		A		987		(4)	(3)	Common Stock	987	$0	987	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive one share of F5, Inc. Common Stock on the vest date.

2. Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2025 (to be held in 2026) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.

3. If the reporting person continues to provide services to the Company through the vest date, the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.

4. Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2026 (to be held in 2027) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.

Remarks:

	/s/ Angelique M. Okeke by Power of Attorney	03/13/2026
	** 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).
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

What insider transactions did F5 (FFIV) director Michel Combes report?

Michel Combes reported exercising 934 restricted stock units into common stock and receiving a new grant of 987 restricted stock units. Both transactions were non-cash at a conversion price of $0.00 per share and reflect equity compensation rather than open-market trading.

Did Michel Combes buy or sell F5 (FFIV) shares on the open market?

The filing shows no open-market purchases or sales by Michel Combes. He exercised 934 restricted stock units into common shares and received 987 new restricted stock units as compensation, all at a $0.00 conversion price, with no reported cash transactions or dispositions.

How many F5 (FFIV) shares does Michel Combes hold after these transactions?

Following the reported transactions, Michel Combes directly holds 5,805 shares of F5 common stock. This reflects the addition of 934 shares issued upon exercising restricted stock units, combined with his prior holdings, and does not include unvested restricted stock units granted separately.

What are the vesting terms of Michel Combes’ new F5 (FFIV) restricted stock units?

The 987 newly granted restricted stock units will fully vest on the first business day before the fiscal 2026 annual shareholder meeting, expected in 2027. Vesting requires that Michel Combes continue to serve as a director through the vest date, at which time shares will be issued.

Are Michel Combes’ F5 (FFIV) restricted stock units subject to continued service conditions?

Yes. The filing states that restricted stock units vest only if Michel Combes continues providing services, including board service, through the vest date. On vesting, the corresponding number of F5 common shares is issued to him, aligning compensation with ongoing service.