Micron EVP Michael Cordano acquires performance shares
The performance goals were certified at 233% of target for Data Center SSD and HBM3E+ and 150% for relative total shareholder return.
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Form Type
4
Rhea-AI Filing Summary
Micron Technology Inc (MU) EVP, Worldwide Sales Michael D. Cordano reported award acquisitions and tax withholding on October 13, 2026. Two reported entries list 22,494 performance restricted stock units each tied to Data Center SSD and HBM3E+ goals; another lists 25,566 units tied to relative total shareholder return. 100% of the reported PRSU shares remain subject to vesting until certification of year-three performance goals.
He also acquired 4,298 common shares and had 4,694 shares withheld for tax obligations in connection with vesting of earlier awards.
Insights
Analyzing...
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
CORDANO MICHAEL D
Role
EVP, Worldwide Sales
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Restricted Stock Units F4 | 22,494 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F4 | 22,494 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F5 | 25,566 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1, F2 | 4,298 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 4,694 | $989.04 | $4.64M |
Holdings After Transaction:
Performance Restricted Stock Units — 70,554 contracts (Direct);
Common Stock — 43,683 shares (Direct)
Footnotes (5)
- F1. Restricted Stock Awards vest in three equal annual installments beginning on the first anniversary of the grant date.
- F2. Includes 20.273 shares acquired on July 31, 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 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.
- F5. 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: 22,494 shares per entry
Performance restricted stock units: 25,566 shares
Common shares acquired: 4,298 shares
+5 more
8 metrics
Performance restricted stock units
22,494 shares per entry
Two reported entries tied to Data Center SSD and HBM3E+ performance goals
Performance restricted stock units
25,566 shares
Entry tied to relative total shareholder return
Common shares acquired
4,298 shares
The footnote includes 20.273 shares acquired July 31, 2026 under the Employee Stock Purchase Plan
Shares withheld for tax obligations
4,694 shares
Withholding related to vesting of previously granted awards
Data Center SSD and HBM3E+ goal achievement
233% of target
Performance restricted stock units
Relative total shareholder return goal achievement
150% of target
Performance restricted stock units
Aggregate limit
200%
Limit on total target shares that may be received under the performance restricted stock units
PRSU shares subject to vesting
100%
Until certification of performance goals at the end of year three
Key Terms
Performance Restricted Stock Units, Restricted Stock Awards, Employee Stock Purchase Plan, aggregate limit
4 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.
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.
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 limit financial
"subject to a 200% aggregate limit"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Michael D. Cordano report for MU on October 13, 2026?
He reported two PRSU acquisition entries of 22,494 shares each for Data Center SSD and HBM3E+ goals, one 25,566-share PRSU acquisition tied to relative total shareholder return, and a 4,298-share common-stock acquisition. The latter includes 20.273 shares acquired July 31, 2026 under the Employee Stock Purchase Plan. He also reported withholding 4,694 common shares for tax obligations on previously granted awards.
What conditions apply to Michael D. Cordano’s MU performance stock units?
100% of the reported PRSU shares remain subject to vesting until performance goals are certified at the end of the third year. The goals were certified at 233% of target for Data Center SSD and HBM3E+ and 150% for relative total shareholder return. Payouts vary from 0% based on actual achievement, subject to a 200% aggregate limit on total target shares that may be received.
AI-generated analysis. How Rhea-AI works. Not financial advice.
