Illumina (ILMN) director Philip Schiller receives 2,072-share restricted stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SCHILLER PHILIP W reported acquisition or exercise transactions in this Form 4 filing.
ILLUMINA, INC. director Philip W. Schiller received an equity grant of 2,072 shares of Common Stock in the form of restricted stock units, valued at $144.83 per share. Following this award, he holds 22,220 shares directly.
The restricted stock units will vest 100% on the earlier of one year from the grant date or immediately before the company’s next annual stockholder meeting for the following year, as long as he continues serving as a director through that date.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
SCHILLER PHILIP W
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,072 | $144.83 | $300K |
Holdings After Transaction:
Common Stock — 22,220 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU grant size: 2,072 shares
Grant reference price: $144.83 per share
Post-grant holdings: 22,220 shares
3 metrics
RSU grant size
2,072 shares
Restricted stock unit award to director
Grant reference price
$144.83 per share
Value per share used in the award disclosure
Post-grant holdings
22,220 shares
Total Common Stock held directly after the award
Key Terms
restricted stock units, vest, annual meeting of the company's stockholders, director
4 terms
restricted stock units financial
"Grant of restricted stock units. 100% of the shares subject to the restricted stock unit award shall vest"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
vest financial
"100% of the shares subject to the restricted stock unit award shall vest on the earlier of"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
annual meeting of the company's stockholders financial
"the date immediately preceding the date of the annual meeting of the company's stockholders for the year following"
director financial
"provided, in each case, that the awardee continues to serve as a director on such date"
FAQ
What insider transaction did ILMN director Philip Schiller report on this Form 4?
Philip W. Schiller reported receiving an equity grant of 2,072 shares of Illumina Common Stock as restricted stock units. This is a compensation-related award, not an open-market purchase or sale, and increases his directly held position in the company.
What are the vesting terms of Philip Schiller’s Illumina restricted stock units?
The 2,072 restricted stock units vest 100% on the earlier of one year after the grant date or immediately before Illumina’s next annual stockholder meeting for the following year, provided Philip Schiller continues serving as a director through the applicable vesting date.
What transaction code is used for Philip Schiller’s Illumina equity grant on Form 4?
The Form 4 uses transaction code “A” for Philip Schiller’s award, which denotes a grant, award, or other acquisition of securities. In this case, it represents 2,072 restricted stock units of Illumina Common Stock granted as part of his director compensation.