F5 (FFIV) director converts 934 RSUs into shares, holds 2,243 common

Rhea-AI Filing Summary

F5, Inc. director Michael L. Dreyer exercised restricted stock units into common shares. On this transaction date, 934 Restricted Stock Units were converted into 934 shares of F5 common stock at a stated price of $0.00 per share, reflecting equity compensation rather than an open-market purchase.

After the conversion, Dreyer directly owned 2,243 shares of F5 common stock. Footnotes explain that each Restricted Stock Unit represents a contingent right to receive one share of common stock, generally issued if the director continues to serve through the applicable vesting date tied to the company’s fiscal 2025 annual shareholder meeting.

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

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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^*

Dreyer Michael L

(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	2,243	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

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.

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 transaction did F5 (FFIV) disclose for Michael L. Dreyer?

F5 disclosed that director Michael L. Dreyer exercised 934 Restricted Stock Units into 934 shares of common stock. This was an equity compensation event, not an open-market trade, and increased his directly held F5 common shares to 2,243 after the transaction.

Was the F5 (FFIV) insider transaction a stock purchase or sale?

The transaction was an exercise of derivative securities, not a market buy or sell. Dreyer converted 934 Restricted Stock Units into 934 F5 common shares at a stated price of $0.00 per share, reflecting vesting of equity compensation rather than trading in the open market.

How many F5 (FFIV) shares does Michael L. Dreyer hold after this Form 4?

Following the reported transactions, Michael L. Dreyer directly owns 2,243 shares of F5 common stock. This figure comes from the Form 4 totals after converting 934 Restricted Stock Units into common shares, and represents his direct ownership position shown in the filing.

What do F5 (FFIV) Restricted Stock Units represent for the director?

Each Restricted Stock Unit represents a contingent right to receive one share of F5 common stock on the vest date. The units generally vest if the director continues to serve through the specified vesting date, at which time the corresponding common shares are issued.

When do the F5 (FFIV) director Restricted Stock Units vest?

The Restricted Stock Units are scheduled to fully vest on the first business day before the fiscal 2025 annual shareholder meeting, which is to be held in 2026. Vesting requires that the reporting person continue serving as a director through that vest date.

Is the F5 (FFIV) insider transaction part of director compensation?

Yes. The Form 4 describes Restricted Stock Units converting into common stock at $0.00 per share, which is characteristic of equity compensation. The footnotes explain that shares are issued if the director continues providing services through the specified vesting date.