Micron COO Bhatia vests 68,697 performance shares
The 2023 performance-unit shares vested after certification; two 2024 award groups remain subject to vesting until year-three certification.
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Form Type
4
Rhea-AI Filing Summary
Micron Technology Inc. President and COO Manish H. Bhatia reported on October 13, 2026, the conversion and vesting of 68,697 shares from 2023 performance-based restricted stock units (PRSUs) after performance certification. He also reported 25,877 shares earned under 2024 PRSUs tied to Data Center SSD and HBM3E+ goals and 28,755 shares tied to relative total shareholder return; both groups remain subject to vesting until year-three certification. A separate 10,111-share common-stock award was reported, and 59,088 common shares were withheld for tax obligations at $989.04 per share.
Insider Trade Summary
68,697 shares exercised/converted
Exercise
16 txns
Insider
BHATIA MANISH H
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units F4 | 24,113 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F4 | 24,113 | $0.00 | $0.00 |
| Exercise | Performance Restricted Stock Units F5 | 20,471 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F6 | 25,877 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F6 | 25,877 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F7 | 28,755 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1, F2 | 10,111 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 10,828 | $989.04 | $10.71M |
| Tax Withholding | Common Stock F3 | 7,535 | $989.04 | $7.45M |
| Tax Withholding | Common Stock F3 | 5,137 | $989.04 | $5.08M |
| Exercise | Common Stock F4 | 24,113 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 13,721 | $989.04 | $13.57M |
| Exercise | Common Stock F4 | 24,113 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 11,828 | $989.04 | $11.70M |
| Exercise | Common Stock F5 | 20,471 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 10,039 | $989.04 | $9.93M |
Holdings After Transaction:
Performance Restricted Stock Units — 80,509 contracts (Direct);
Common Stock — 343,435 shares (Direct)
Footnotes (7)
- F1. Restricted Stock Awards vest in three equal annual installments beginning on the first anniversary of the grant date.
- F2. Includes 229.064 shares acquired on January 20, 2026 under the Micron Technology, Inc. Employee Stock Purchase Plan, which acquisition is exempt from reporting under Rules 16a3(f)(1)(i)(B) and 16b-3(c).
- F3. Withholding of common stock shares to satisfy tax withholding obligations in connection with the vesting of previously granted awards.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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 converted and vested: 68,697 shares
Shares withheld for tax obligations: 59,088 shares
Price per share for tax withholding: $989.04 per share
+5 more
8 metrics
2023 PRSU shares converted and vested
68,697 shares
Reported October 13, 2026, after performance certification
Shares withheld for tax obligations
59,088 shares
Related to vesting of previously granted awards on October 13, 2026
Price per share for tax withholding
$989.04 per share
Withholding transactions reported October 13, 2026
Common-stock award
10,111 shares
Reported October 13, 2026
2024 PRSUs tied to Data Center SSD and HBM3E+
25,877 shares
Earned as of the end of the second year and remain subject to vesting
2024 PRSUs tied to relative total shareholder return
28,755 shares
Earned as of the end of the second year and remain subject to vesting
Certified performance against target
266% of target
High Growth Segments and HBM3E+ goals for 2023 PRSUs
Final payout after aggregate limit
126% of target
Total-shareholder-return PRSUs awarded in 2023
Key Terms
Performance Restricted Stock Units, Employee Stock Purchase Plan, aggregate payout provisions
3 terms
Performance Restricted Stock Units financial
"Performance Restricted Stock Units with a three-year performance period"
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.
Employee Stock Purchase Plan financial
"under the Micron Technology, Inc. Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
aggregate payout provisions financial
"after application of the aggregate payout provisions"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What performance results affected Manish H. Bhatia's Micron PRSUs?
For 2023 PRSUs, the Compensation Committee certified High Growth Segments and HBM3E+ at 266% of target and total shareholder return at 150% of target. For the total-shareholder-return awards, a 200% aggregate limit resulted in a final payout of 126% of target.
AI-generated analysis. How Rhea-AI works. Not financial advice.
