Micron CFO Mark J. Murphy vests 64,880 award shares
Earlier PRSU awards vested after three-year performance certification, while 2024 performance awards remain subject to year-three vesting.
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Form Type
4
Rhea-AI Filing Summary
Micron Technology Inc. EVP & Chief Financial Officer Mark J. Murphy reported disposition of 64,880 performance restricted stock units and acquisition of 64,880 common shares on October 13, 2026. The units related to 2023 awards whose performance goals were certified; the shares vested at the end of the three-year performance period. Murphy also had 50,343 common shares withheld for tax obligations at $989.04 per share. Separate 2024 PRSU award entries included 24,516 and 27,242 shares earned as of year two; those shares remain subject to vesting until certification of the year-three performance goals.
Insider Trade Summary
64,880 shares exercised/converted
Exercise
17 txns
Insider
Murphy Mark J.
Role
EVP & Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units F3 | 22,774 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F3 | 22,774 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F4 | 19,332 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F7 | 24,516 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F7 | 24,516 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F8 | 27,242 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1 | 7,078 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 9,320 | $989.04 | $9.22M |
| Tax Withholding | Common Stock F2 | 6,438 | $989.04 | $6.37M |
| Tax Withholding | Common Stock F2 | 4,212 | $989.04 | $4.17M |
| Exercise | Common Stock F3 | 22,774 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 11,825 | $989.04 | $11.70M |
| Exercise | Common Stock F3 | 22,774 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 10,033 | $989.04 | $9.92M |
| Exercise | Common Stock F4 | 19,332 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 8,515 | $989.04 | $8.42M |
| holding | Common Stock F5, F6 | -- | -- | -- |
Holdings After Transaction:
Performance Restricted Stock Units — 76,274 contracts (Direct);
Common Stock — 183,308 shares (Direct);
Common Stock — 58,000 shares (Indirect, GRAT)
Footnotes (8)
- F1. Restricted Stock Awards vest in three equal annual installments beginning on the first anniversary of the grant date.
- F2. Withholding of common stock shares to satisfy tax withholding obligations in connection with the vesting of previously granted awards.
- F3. The Compensation Committee certified achievement of pre-established performance goals related to High Growth Segments and HBM3E+, each at 266% of target under the performance-based restricted stock units ("PRSUs") with a three-year performance period granted on October 13, 2023. The payout for the PRSUs (if earned) varies (starting at 0%) based on actual achievement of the goals, subject to a 200% aggregate limit on the total target shares that may be received under the PRSUs awarded on October 13, 2023. The reported shares represent shares earned upon certification of performance at the conclusion of the three-year performance period, including shares earned based on second-year performance that remained subject to vesting and shares earned based on third-year performance. All such shares vested upon certification of performance at the end of the three-year performance period.
- F4. The Compensation Committee certified achievement of pre-established performance goals related to total shareholder return at 150% of target under the PRSUs with a three-year performance period previously awarded on October 13, 2023. The payout for the PRSUs (if earned) varies (starting at 0%) based on actual achievement of the goals, subject to a 200% aggregate limit on the total target shares that may be received under the PRSUs awarded on October 13, 2023. As a result of this limitation, the final payout for these PRSUs was reduced to 126% of target after application of the aggregate payout provisions. The reported shares represent shares earned upon certification of performance at the conclusion of the three-year performance period, including shares earned based on second-year performance that remained subject to vesting and shares earned based on third-year performance. All such shares vested upon certification of performance at the end of the three-year performance period.
- F5. The number of shares held reflects the transfer on February 5, 2026 of 23,000 shares of Common Stock to a Grantor Retained Annuity Trust for the benefit of the Reporting Person and his family.
- F6. Grantor retained annuity trusts are for the benefit of the Reporting Person and his family.
- F7. The Compensation Committee certified achievement of pre-established performance goals related to Data Center SSD and HBM3E+, each at a level of 233% of target under the PRSUs with a three-year performance period previously awarded on October 13, 2024. The payout for the PRSUs (if earned) varies (starting at 0%) based on actual achievement of the goals, subject to a 200% aggregate limit on the total target shares that may be received under the PRSUs awarded on October 13, 2024. The reported shares represent the shares earned as of the end of the second year of the performance period, 100% of which remain subject to vesting until certification of performance goals at the end of year 3 of the performance period.
- F8. The Compensation Committee certified achievement of pre-established performance goals related to relative total shareholder return at a level of 150% of target under the PRSUs with a three-year performance period previously awarded on October 13, 2024. The payout for the PRSUs (if earned) varies (starting at 0%) based on actual achievement of the goals, subject to a 200% aggregate limit on the total target shares that may be received under the PRSUs awarded on October 13, 2024. The reported shares represent the shares earned as of the end of the second year of the performance period, 100% of which remain subject to vesting until certification of performance goals at the end of year 3 of the performance period.
Key Figures
Performance restricted stock units disposed: 64,880 shares
Common shares acquired: 64,880 shares
Common shares withheld for tax: 50,343 shares
+4 more
7 metrics
Performance restricted stock units disposed
64,880 shares
October 13, 2026
Common shares acquired
64,880 shares
October 13, 2026
Common shares withheld for tax
50,343 shares
October 13, 2026
Withholding price
$989.04 per share
Tax withholding transactions on October 13, 2026
2024 PRSU shares earned as of year two
24,516 shares
Remain subject to vesting until year-three performance certification
2024 PRSU shares earned as of year two
27,242 shares
Remain subject to vesting until year-three performance certification
Restricted stock award
7,078 shares
Vests in three equal annual installments beginning on the first anniversary of the grant date
Key Terms
Performance Restricted Stock Units, aggregate limit, Grantor retained annuity trust
3 terms
Performance Restricted Stock Units financial
"Performance Restricted Stock Units"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
aggregate limit financial
"subject to a 200% aggregate limit on the total target shares"
Grantor retained annuity trust financial
"Grantor retained annuity trusts are for the benefit of the Reporting Person and his family"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many PRSUs did MU CFO Mark J. Murphy report converting?
The transactions show disposition of 64,880 PRSUs and acquisition of 64,880 common shares on October 13, 2026. The units related to 2023 awards, and the shares vested after the Compensation Committee certified performance goals at the end of the three-year performance period.
How do Mark J. Murphy's MU restricted stock awards vest?
The 7,078 common stock restricted stock awards vest in three equal annual installments beginning on the first anniversary of the grant date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
