[Form 4] HARMONIC INC. Insider Trading Activity

Rhea-AI Filing Summary

Harmonic Inc. (HLIT) reporting person Nimrod Ben‑Natan, who is both President & CEO and a director, recorded an acquisition of equity on 09/11/2025. The filing shows 20,032 restricted stock units were converted/acquired (transaction code M) at $0, and each RSU represents a contingent right to one share. After the transaction the reporting person beneficially owned 512,519 shares of common stock (direct) and held derivative rights covering 140,224 shares. The Form 4 was signed by an attorney‑in‑fact on 09/15/2025.

Positive

• Executive alignment: Reporting person increased equity stake via 20,032 restricted stock units acquired on 09/11/2025.
• Clear disclosure: Filing shows both direct beneficial ownership (512,519 shares) and derivative holdings (140,224), improving transparency.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Insider CEO/director received 20,032 RSUs, modestly increasing direct and derivative holdings; filing is routine and standard for executive compensation vesting.

The report documents an executive receipt of restricted stock units converted on 09/11/2025 under transaction code M at no cash price, consistent with vesting or settlement of compensation awards. The filing identifies the reporting person as both President & CEO and a director, which is governance‑relevant because it updates insiders' skin‑in‑the‑game. No unusual sale or transfer is reported and no change in control or new debt is identified.

Securities Analyst

TL;DR: The transaction increases the CEO's beneficial holdings to 512,519 direct shares and 140,224 derivative shares; impact appears immaterial to valuation.

The Form 4 shows acquisition of 20,032 restricted stock units (each convertible to one share) recorded with a $0 price, reflecting settlement of equity compensation rather than market purchases. This increases the executive's reported direct beneficial ownership to 512,519 shares and derivative ownership to 140,224 shares. The disclosure is timely and typical for equity‑based pay; it does not disclose any market disposition or material financing activity.

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).

1. Name and Address of Reporting Person^*

Ben-Natan Nimrod

(Last) (First) (Middle)

2590 ORCHARD PARKWAY

(Street)

SAN JOSE CA 95131

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HARMONIC INC. [ HLIT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

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	09/11/2025		M		20,032	A	$0	512,519	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 Units(1)	$0	09/11/2025		M			20,032	06/11/2025	06/11/2027	Common Stock	20,032	$0	140,224	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of HLIT common stock.

	/s/ Wendi Ninh, Attorney-in-Fact	09/15/2025
	** 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

What did HLIT insider Nimrod Ben‑Natan report on Form 4?

The filing reports acquisition of 20,032 restricted stock units on 09/11/2025, increasing reported holdings to 512,519 direct shares and 140,224 derivative shares.

What does transaction code M mean on this Form 4 for HLIT?

Transaction code M indicates exercise or conversion of derivative securities, here reflecting conversion/settlement of restricted stock units at a $0 price as disclosed.

What roles does the reporting person hold at Harmonic (HLIT)?

The filing identifies Nimrod Ben‑Natan as both President & CEO and a Director of Harmonic Inc.

When was the Form 4 signed and by whom?

The Form 4 was signed by an attorney‑in‑fact, Wendi Ninh, on 09/15/2025.

How many shares does each restricted stock unit represent?

Each restricted stock unit represents a contingent right to receive one share of HLIT common stock, per the filing.