Form 4 confirms Juniper $40 cash-out; RSUs, PSUs roll into HPE equity

Rhea-AI Filing Summary

SEC Form 4 filing for Juniper Networks, Inc. (JNPR) details insider transactions triggered by the closing of the company’s merger with Hewlett Packard Enterprise (HPE) on July 2 2025. The reporting person, Robert Mobassaly (SVP & General Counsel), reports the following:

• Common stock: Disposition (Code “D”) of 102,237 shares; each share was converted into the right to receive $40.00 in cash under the Agreement and Plan of Merger.
• RSU award: 42,300 unvested restricted stock units converted into HPE RSUs using a 2.1431 exchange ratio; Juniper RSUs are no longer outstanding.
• Performance Stock Units (PSUs): 86,269 PSUs deemed earned and converted into HPE PSUs; 105,940 Juniper PSUs were cancelled (Code “D”) following conversion, leaving 0 Juniper derivative securities outstanding.

After these transactions Mr. Mobassaly holds no direct or derivative ownership of Juniper securities; his equity interest has migrated to HPE instruments. The filing confirms that Juniper has become a wholly-owned subsidiary of HPE, providing all Juniper shareholders a fixed cash exit at $40.00 per share and rolling employee equity into HPE on equivalent terms.

Positive

• Merger consummated at $40.00 per share cash, providing liquidity and certainty of value to Juniper shareholders.
• Employee RSUs and PSUs seamlessly converted into HPE equity at a defined 2.1431 exchange ratio, preserving incentive alignment post-merger.

Negative

• None.

Insights

M&A Specialist

TL;DR: Filing signals definitive close of HPE–Juniper deal; insider equity fully cashed out or rolled into HPE instruments.

The Form 4 documents mechanics of the HPE–Juniper merger on the legal closing date. Disposition of 102,237 Juniper shares for $40 cash confirms that consideration was paid and equity cancelled—an essential milestone for deal completion and payment of merger proceeds to all shareholders. RSUs and PSUs convert at a 2.1431 ratio, aligning employee incentives with the new parent and removing performance hurdles on previously issued PSUs. From an M&A standpoint, this is a finalising, value-realising event; no further Juniper equity remains, and the company will cease separate trading.

Portfolio Manager

TL;DR: Transaction is largely priced in; filing merely documents cash payout and equity migration.

Investors already anticipated the $40 cash consideration since the merger announcement in January 2024. This Form 4 is administrative, showing that senior management’s stock was treated identically to public shareholders and that incentive awards move to HPE. The event is positive in confirming execution risk is eliminated, but impact on portfolios is minimal if positions were exited or hedged ahead of close.

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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X

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^*

Mobassaly Robert

(Last) (First) (Middle)

1133 INNOVATION WAY

(Street)

SUNNYVALE CA 94089

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
JUNIPER NETWORKS INC [ JNPR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025

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	07/02/2025		D		102,237	D	(1)	0	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
RSU Award	$0	07/02/2025		D			42,300	(2)	(3)	Common Stock	42,300	$0	0	D
Performance Stock Unit	$0	07/02/2025		A			86,269	(4)	(3)	Common Stock	86,269	$0	105,940	D
Performance Stock Unit	$0	07/02/2025		D			105,940	(5)	(3)	Common Stock	105,940(6)	$0	0	D

Explanation of Responses:

1. Pursuant to an Agreement and Plan of Merger, dated as of January 9, 2024 (the "Merger Agreement"), entered into by and among Juniper Networks, Inc., a Delaware corporation (the "Issuer"), Hewlett Packard Enterprise Company, a Delaware corporation ("Parent"), and Jasmine Acquisition Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"), on July 2, 2025, in accordance with the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly-owned subsidiary of Parent (the "Merger"). In connection with the Merger, each outstanding share of Issuer common stock ("Share") was converted into the right to receive an amount equal to $40.00 per share in cash, without interest.

2. Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each unvested Issuer restricted stock unit ("RSU") award outstanding immediately prior to the Effective Time was converted into an RSU award to acquire the number of shares of common stock of Parent ("Parent Shares") (rounded to the nearest whole share), determined by multiplying (i) the number of Shares subject to the RSU award prior to the Effective Time by (ii) 2.1431 (the "Exchange Ratio"). Each such Parent RSU award continues to have, and is subject to, the same terms and conditions as applied to the corresponding Issuer RSU award immediately prior to the Effective Time.

3. Not applicable.

4. Represents performance stock units ("PSUs") for which performance was deemed achieved based on actual performance or assuming target performance at the Effective Time, but which remain subject to time-based vesting conditions.

5. Pursuant to the Merger Agreement, at the Effective Time, each Issuer PSU award outstanding immediately prior to the Effective Time was converted into a PSU award to acquire the number of Parent Shares (rounded to the nearest whole share) determined by multiplying (i) the number of Shares subject to the PSU award prior to the Effective Time by (ii) the Exchange Ratio. Each such Parent PSU award continues to have, and is subject to, the same terms and conditions as applied to the corresponding Issuer PSU award immediately prior to the Effective Time, except that any such Parent PSU award is no longer subject to performance-based vesting.

6. Includes Shares underlying PSUs described in footnote (4).

	By: /s/ Colin Lloyd, as attorney-in-fact For: Robert Mobassaly	07/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

When did the Hewlett Packard Enterprise acquisition of Juniper Networks (JNPR) close?

The merger closed on July 2 2025 according to the Form 4 filing.

What cash amount did Juniper shareholders receive per share?

Each Juniper share was converted into the right to receive $40.00 in cash.

How many Juniper shares did SVP Robert Mobassaly dispose of?

He disposed of 102,237 shares of Juniper common stock.

What happened to the Juniper RSU and PSU awards?

Unvested 42,300 RSUs and 86,269 PSUs were converted into HPE equity using a 2.1431 exchange ratio; Juniper awards were cancelled.

Does Robert Mobassaly still own Juniper securities after the merger?

No. Following the transactions, he holds 0 direct or derivative Juniper securities.

What is the 2.1431 exchange ratio mentioned in the filing?

Each Juniper RSU or PSU converts into an HPE unit by multiplying the original Juniper award count by 2.1431.