Micron EVP April S. Arnzen's 38,166 shares vest
Some 2024 PRSU shares were earned for second-year performance but remain subject to vesting until certification at the end of year three.
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Form Type
4
Rhea-AI Filing Summary
Micron Technology (MU) EVP and Chief People Officer April S. Arnzen reported transactions on October 13, 2026, including 38,166 common shares from performance restricted stock units (PRSUs) that vested after certification of 2023 performance goals. She also reported PRSU shares earned for second-year performance under 2024 awards: 14,437 shares twice and 16,043 shares; all remain subject to vesting until certification of the performance goals at the end of year three.
A separate 3,944-share restricted stock award vests in three equal annual installments beginning on the first anniversary of the grant date. Arnzen also reported 28,882 shares withheld to satisfy tax withholding obligations on previously granted awards, at $989.04 per share, and a gift disposition of 1,013 common shares.
Insider Trade Summary
38,166 shares exercised/converted
Exercise
17 txns
Insider
ARNZEN APRIL S
Role
EVP and Chief People Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units F3 | 13,397 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F3 | 13,397 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F4 | 11,372 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F5 | 14,437 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F5 | 14,437 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F6 | 16,043 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1 | 3,944 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 5,335 | $989.04 | $5.28M |
| Tax Withholding | Common Stock F2 | 3,689 | $989.04 | $3.65M |
| Tax Withholding | Common Stock F2 | 2,459 | $989.04 | $2.43M |
| Exercise | Common Stock F3 | 13,397 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 6,793 | $989.04 | $6.72M |
| Exercise | Common Stock F3 | 13,397 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 5,737 | $989.04 | $5.67M |
| Exercise | Common Stock F4 | 11,372 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 4,869 | $989.04 | $4.82M |
| Gift | Common Stock | 1,013 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Restricted Stock Units — 44,917 contracts (Direct);
Common Stock — 97,952 shares (Direct)
Footnotes (6)
- 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 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.
- F6. 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
2023 PRSU shares vested: 38,166 shares
2024 PRSU shares earned for second-year performance: 14,437 shares twice
2024 PRSU shares earned for second-year performance: 16,043 shares
+4 more
7 metrics
2023 PRSU shares vested
38,166 shares
Shares vested upon certification of the three-year performance period on October 13, 2026
2024 PRSU shares earned for second-year performance
14,437 shares twice
Remain subject to vesting until performance-goal certification at the end of year three
2024 PRSU shares earned for second-year performance
16,043 shares
Remain subject to vesting until performance-goal certification at the end of year three
Restricted stock award
3,944 shares
Vests in three equal annual installments beginning on the first anniversary of the grant date
Shares withheld for tax obligations
28,882 shares
Withheld in connection with vesting of previously granted awards on October 13, 2026
Withholding price per share
$989.04 per share
Price reported for shares withheld on October 13, 2026
Gift disposition
1,013 shares
Common shares on October 13, 2026
Key Terms
Performance Restricted Stock Units, three-year performance period, aggregate payout provisions, Restricted Stock Awards, +1 more
5 terms
Performance Restricted Stock Units financial
"under the performance-based 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.
three-year performance period financial
"with a three-year performance period"
aggregate payout provisions financial
"after application of the aggregate payout provisions"
Restricted Stock Awards financial
"Restricted Stock Awards vest in three equal annual installments"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
tax withholding obligations financial
"to satisfy tax withholding obligations"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What performance results were tied to April S. Arnzen’s MU PRSUs?
For the 2023 PRSUs, High Growth Segments and HBM3E+ each reached 266% of target, while total shareholder return reached 150% of target; the payout for those total-shareholder-return PRSUs was reduced to 126% of target under the aggregate payout provisions. For 2024 PRSUs, Data Center SSD and HBM3E+ each reached 233% of target, and relative total shareholder return reached 150% of target.
AI-generated analysis. How Rhea-AI works. Not financial advice.
