Every Form 4 that Peloton Interactive, Inc. (PTON) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow PTON and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PTON filings page.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Product Officer Nick V. Caldwell exercised Restricted Stock Units into Class A Common Stock on September 15, 2026 and had shares withheld to cover payment of exercise price or tax liability. The RSU award covers 115,741 shares and 462,963 RSUs remain directly held. No Rule 10b5-1 trading plan is reported.
Peloton Interactive, Inc. (PTON) reported that President and CEO Peter C. Stern had 196,328 Restricted Stock Units convert into an equal number of Class A Common Stock shares on September 15, 2026. Each RSU represented a contingent right to receive one share, and the award was scheduled to vest 100% on that date, subject to continued service.
In connection with this vesting and conversion, 100,226 Class A shares were delivered or withheld at $4.85 per share for payment of the exercise price or tax liability. Following the transaction, no RSUs from this award remained outstanding in the derivative holdings reported.
Peloton Interactive, Inc. (PTON) director Karen Boone reported an RSU vesting and related share issuance on September 9, 2026. She exercised 9,022 Restricted Stock Units, each representing one share of Class A Common Stock, receiving 9,022 shares of common stock.
After these transactions, she held 245,085 shares of Class A Common Stock directly and 9,023 RSUs outstanding. The remaining RSUs vest 25% on each of March 9, 2026, June 9, 2026, September 9, 2026 and the earlier of December 9, 2026 or the 2026 annual meeting of stockholders, contingent on continued service.
PELOTON INTERACTIVE, INC. (PTON) director Chris Bruzzo reported the vesting and settlement of restricted stock units into Class A common stock. On September 9, 2026, 9,022 RSUs were converted into 9,022 shares of Class A common stock, increasing his direct holdings to 268,236 shares, while 9,023 RSUs remain outstanding and subject to future vesting.
Each RSU represents a contingent right to receive one share of Class A common stock, with the remaining RSUs scheduled to vest 25% on each of March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual meeting of stockholders, conditioned on continued service.
PELOTON INTERACTIVE, INC. (PTON) director Tara Comonte reported an exercise of Restricted Stock Units (RSUs) into Class A Common Stock on September 9, 2026. She converted 8,458 RSUs into 8,458 shares of Class A Common Stock, and now holds 69,583 Class A shares directly plus 8,459 RSUs that remain outstanding.
Each RSU represents a contingent right to receive one Class A share, and the RSUs vest as to 25% of the total shares on each of March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual meeting of stockholders, subject to continued service. No Rule 10b5-1 trading plan is reported.
Peloton Interactive, Inc. (PTON) reported that director Pamela Thomas-Graham settled a portion of her equity awards on September 9, 2026. She exercised 8,458 Restricted Stock Units (RSUs), which converted into 8,458 shares of Class A Common Stock, leaving her with 143,234 common shares held directly and 8,459 RSUs outstanding. Each RSU represents a contingent right to receive one share, and the RSUs vest in four 25% installments on specified dates in 2026, subject to continued service. No Rule 10b5-1 trading plan is reported.
Peloton Interactive, Inc. (PTON) director Angel L. Mendez reported the vesting and settlement of 9,022 Restricted Stock Units (RSUs) into the same number of shares of Class A Common Stock on September 9, 2026. Following this conversion, he holds 142,634 shares of Class A Common Stock directly. No Rule 10b5-1 trading plan is reported.
The RSU award represents a contingent right to receive one share of Class A Common Stock per unit and is scheduled to vest in four equal quarterly installments on March 9, June 9, September 9 and the earlier of December 9, 2026 or the 2026 annual stockholders meeting, subject to continued service.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Product Officer Nick V. Caldwell acquired 273,623 Restricted Stock Units (RSUs) on September 7, 2026, tied to the company’s Class A Common Stock. The award was earned upon meeting performance criteria from performance stock units granted on September 14, 2025, and is subject to multi-year vesting and continued service.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Operating Officer Charles Peter Kirol received three equity awards in the form of Restricted Stock Units (RSUs) on September 7, 2026. The grants cover 164,175; 228,019; and 206,693 RSUs, each representing one share of Class A Common Stock, acquired upon satisfaction of performance criteria from a prior performance stock unit award, and vest on differing quarterly schedules through dates between November 15, 2025 and August 15, 2029, contingent on continued service. No Rule 10b5-1 trading plan is reported.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Commercial Officer Dion C. Sanders received an award of 273,623 Restricted Stock Units (RSUs) on September 7, 2026. Each RSU represents a contingent right to receive one share of Class A Common Stock, giving him 273,623 RSUs directly held after this award.
The RSUs were acquired upon satisfaction of performance criteria under a prior performance stock unit grant dated September 14, 2025. The award vests as to 31.25% of the shares on November 15, 2026, with an additional 6.25% vesting quarterly thereafter until August 15, 2029, subject to continued service.
PELOTON INTERACTIVE, INC. (symbol: PTON) is the issuer of record for a Form 4 filing submitted to the SEC. Baig Saqib reported acquisition or exercise transactions in this Form 4 filing.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Accounting Officer Saqib Baig received 339,749 Restricted Stock Units (RSUs) on September 7, 2026, each representing one share of Class A Common Stock. The awards include a 72,967 RSU grant tied to performance criteria from a September 14, 2025 performance stock unit award, vesting between November 15, 2026 and August 15, 2028, plus additional RSU grants of 180,723 and 86,059 RSUs with service-based vesting schedules running through August 15, 2029 and November 15, 2029, respectively, subject to continued service.
PELOTON INTERACTIVE, INC. (PTON) reported that President and CEO Peter C. Stern received three grants of Restricted Stock Units (RSUs) on September 7, 2026, each RSU representing one share of Class A Common Stock upon vesting. One award of 196,328 RSUs vests 100% on September 15, 2026, another of 664,015 RSUs vests 31.25% on November 15, 2026 with the remainder vesting 6.25% quarterly through August 15, 2029, and a third award of 1,290,878 RSUs vests 6.25% on November 15, 2026 with the balance vesting 6.25% quarterly through August 15, 2030. The RSUs were acquired upon satisfaction of performance criteria underlying performance stock units granted on September 14, 2025 and require continued service on each vesting date.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Accounting Officer Saqib Baig sold 4,912 shares of Class A Common Stock on August 19, 2026. The sale was executed at a weighted average price of $5.452 per share, with individual trades between $5.42 and $5.47 per share. After this transaction, Baig directly held 267,729.47 shares. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on September 2, 2025.
PELOTON INTERACTIVE, INC. (PTON) reported that Dion C. Sanders, Chief Commercial Officer, sold 112,512 shares of Class A Common Stock on 2026-08-19 in a sale classified as an open-market or private transaction. The weighted average sale price was $5.4521 per share, with prices ranging from $5.42 to $5.48 per share. Following this transaction, Sanders held 18,801 shares directly. The sales were effected under a Rule 10b5-1 trading plan adopted by Sanders on December 2, 2025.
PELOTON INTERACTIVE, INC. (symbol: PTON) is the issuer of record for a Form 4 filing submitted to the SEC.
PELOTON INTERACTIVE, INC. (PTON) reported insider equity activity by its Chief Operating Officer, Charles Peter Kirol. On August 15, 2026, RSUs covering 17,225 shares were settled into an equal number of Class A Common shares, increasing his directly held stock. On August 17, 2026, 8,794 shares of Class A Common Stock were withheld at $5.63 per share to cover tax liabilities related to the RSU vesting. After the RSU transaction, the reporting person held 206,693 RSUs subject to a vesting schedule running through August 15, 2029.
PELOTON INTERACTIVE, INC. (PTON) reported that President and CEO Peter C. Stern had RSUs settle into 59,714 shares of Class A Common Stock on August 15, 2026, increasing his directly held common shares. In connection with this RSU vesting, 30,484 shares of Class A Common Stock were withheld on August 17, 2026 at $5.63 per share to cover his associated tax liability. Following the RSU transaction, he held 716,561 RSUs directly, which vest 6.25% on November 15, 2025 and 6.25% quarterly thereafter, with all RSUs fully vested by August 15, 2029, subject to continued service.
PELOTON INTERACTIVE, INC. (PTON) reported that Chief Product Officer Nick V. Caldwell had Restricted Stock Units settle into Class A Common Stock and related tax withholding activity. On August 15, 2026, 38,277 and 119,332 RSUs, each representing a right to one Class A share, were converted into the same number of Class A shares as part of vesting schedules running through August 15, 2026 and May 15, 2029. On August 17, 2026, 87,159 Class A shares were withheld at $5.63 per share to cover Caldwell’s tax liability arising from RSU vesting.
PELOTON INTERACTIVE, INC. (PTON) reported insider equity activity by Chief Accounting Officer Saqib Baig. On August 15, 2026, multiple Restricted Stock Units (RSUs) vested and were converted into an aggregate of 80,034 shares of Class A Common Stock at no exercise cost, reflecting compensation-related equity settlement across several vesting schedules. On August 17, 2026, Baig sold 36,439 shares of Class A Common Stock at a weighted average price of $5.3634 per share, with the filing stating the sale was made solely to cover tax liabilities arising from the RSU settlements.
PELOTON INTERACTIVE, INC. (PTON) reported insider equity activity by Chief Commercial Officer Dion C. Sanders. On August 15, 2026, multiple Restricted Stock Unit (RSU) awards were settled, delivering an aggregate of 267,372 shares of Class A Common Stock to the reporting person. On August 17, 2026, 136,059 shares of Class A Common Stock were withheld at $5.63 per share to cover tax liability related to these RSU settlements. The remaining shares from the RSU vesting events were retained as directly held Class A Common Stock.
PELOTON INTERACTIVE, INC. (PTON) director Karen Boone reported selling 25,000 shares of Class A Common Stock on August 17, 2026 in an open-market transaction under a Rule 10b5-1 trading plan. The weighted average sale price was $5.3466 per share, across a price range of $5.28–$5.52. Following this sale, Boone directly holds 236,063 shares of Peloton Class A Common Stock.
Peloton Interactive Chief Operating Officer Charles Peter Kirol sold 3,198 shares of Class A Common Stock on July 20, 2026, at a weighted average price of $6.4894 per share under a Rule 10b5-1 trading plan adopted May 29, 2025.
Following this sale, he directly holds 161,242 shares. Individual trade prices ranged from $6.4300 to $6.5500 per share.
Peloton Interactive Chief Operating Officer Charles Peter Kirol converted 56,510 Restricted Stock Units into Class A Common Stock on July 15, 2026. To cover related tax obligations, 24,526 shares were withheld at $6.33 per share. After these transactions, he directly holds 164,440 Class A shares and 508,590 RSUs.
Peloton Interactive, Inc. reported that Chief Accounting Officer Saqib Baig executed an open-market sale of 5,000 shares of Class A Common Stock on July 14, 2026 at a weighted average price of $6.1177 per share, with individual trades between $6.0100 and $6.2300.
The transaction was effected pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on September 2, 2025, and Baig continues to hold 229,046.47 shares of Peloton Class A Common Stock directly following the sale.
Peloton Interactive Chief Product Officer Nick V. Caldwell reported routine equity compensation activity involving Restricted Stock Units (RSUs). On June 15, 2026, 115,740 RSUs converted into the same number of Class A Common shares at a stated price of $0.00 per share.
Of these, 61,773 shares were withheld at $5.80 per share to cover his tax liability related to the RSU vesting, which is not an open-market sale. Following these transactions, Caldwell directly holds 990,062 shares of Peloton Class A Common Stock and 578,704 RSUs.
The RSU grant vests 25% of the total shares on November 1, 2024, then 6.25% quarterly from December 15, 2024, until full vesting on September 15, 2027, subject to his continued service.
Peloton Interactive director Tara Comonte exercised restricted stock units to acquire 8,459 shares of Class A Common Stock on June 9, 2026. Following this non-market transaction, she directly holds 61,125 Class A shares. The related RSU award, representing one share per unit, vests in four 25% installments on March 9, June 9, September 9, and the earlier of December 9, 2026 or the 2026 annual stockholder meeting, subject to continued service.
Peloton Interactive director Chris Bruzzo exercised restricted stock units that converted into 9,023 shares of Class A Common Stock. This was a derivative exercise, not an open‑market purchase or sale. After the transaction, he directly owned 259,214 Class A shares and 18,045 RSUs.
The RSU award vests in four equal 25% installments on March 9, 2026, June 9, 2026, September 9, 2026 and the earlier of December 9, 2026 or the 2026 annual stockholder meeting, subject to continued service. No shares were reported as sold or withheld for taxes in this filing.
Peloton Interactive director Angel L. Mendez reported a compensation-related equity transaction. He exercised Restricted Stock Units to acquire 9,023 shares of Class A Common Stock at $0.00 per share, bringing his direct holdings to 133,612 shares.
The underlying RSU award now totals 18,045 units, each representing a right to one future Class A share. According to the filing, the RSUs vest in four equal 25% installments on March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual shareholder meeting, subject to his continued service.
PELOTON INTERACTIVE, INC. director Pamela Thomas-Graham reported an equity compensation transaction involving Restricted Stock Units (RSUs) tied to Class A Common Stock. She acquired 8,459 shares of Class A Common Stock on June 9, 2026 through an exercise or conversion of derivative securities, with a reported price of $0.00 per share. Following this transaction, her direct holdings of Class A Common Stock rose to 134,776 shares, and she held 16,917 RSUs, each representing a contingent right to receive one share of Class A Common Stock. Footnotes state that these RSUs vest in four quarterly installments of 25% each on March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual meeting of stockholders, subject to continued service.
Peloton Interactive director Karen Boone exercised restricted stock units into common shares. On June 9, 2026, 9,023 Restricted Stock Units converted into 9,023 shares of Class A Common Stock at a stated price of $0.00 per share.
After the transaction, she directly holds 261,063 shares of Class A Common Stock and 18,045 RSUs. The RSUs vest in 25% quarterly installments on March 9, 2026, June 9, 2026, September 9, 2026 and the earlier of December 9, 2026 or the 2026 annual stockholders meeting, subject to continued service.
Peloton Interactive interim CFO Saqib Baig reported an open-market sale of 5,000 shares of Class A Common Stock on June 9, 2026 at $5.66 per share, totaling about $28,300. After the sale, he directly holds 234,046.47 shares. The transaction was carried out under a Rule 10b5-1 trading plan adopted on September 2, 2025.
Peloton Interactive’s interim CFO and CAO Saqib Baig reported an open-market sale of 5,000 shares of Class A Common Stock. The shares were sold at an average price of $5.45 per share. After this transaction, Baig directly holds about 239,046 Class A shares.
The filing notes that this sale was carried out under a pre-arranged Rule 10b5-1 trading plan adopted by Baig, indicating the trade was scheduled in advance rather than timed discretionarily.
Peloton Interactive Chief Commercial Officer Dion C. Sanders sold 112,523 shares of Class A Common Stock in an open-market transaction at a weighted average price of $5.1865 per share. The sale on May 20, 2026 was made under a Rule 10b5-1 trading plan adopted on December 2, 2025, and left him holding no shares directly.
Peloton Interactive interim CFO and CAO Saqib Baig reported an open-market sale of 5,973 shares of Class A common stock on May 20, 2026 at a weighted average price of $5.1869 per share. The trades occurred between $5.13 and $5.23 per share and were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 2, 2025. Following this transaction, Baig directly holds 244,046.47 shares of Peloton Class A common stock.
Peloton Interactive’s interim CFO and CAO, Saqib Baig, reported a combination of equity award settlements and a related share sale. On May 15, 2026, he exercised restricted stock units that delivered a total of 80,035 shares of Class A Common Stock at a conversion price of $0.00 per share.
On May 18, 2026, he then completed an open-market sale of 29,075 shares of Class A Common Stock at a weighted average price of $5.2744 per share, with individual trades ranging from $5.2450 to $5.3350 per share. The footnotes state this sale was undertaken solely to cover his tax liability arising from the RSU settlements.
Following these transactions, Baig directly holds 250,019.47 shares of Peloton Class A Common Stock. The RSUs referenced in the filing continue to vest on scheduled quarterly dates through November 15, 2026, August 15, 2027, and February 15, 2028, conditioned on continued service.
Peloton Interactive Chief Commercial Officer Dion C. Sanders reported RSU-related share activity. On May 15, 2026, he acquired an aggregate 229,096 shares of Class A Common Stock through the exercise or settlement of Restricted Stock Units, each RSU representing a right to one share.
To cover associated tax obligations, 116,573 shares were withheld at a value of $5.29 per share, a non-market, tax-withholding disposition rather than an open-market sale. Following these transactions, Sanders directly held 112,523 shares of Class A Common Stock. The RSUs vest quarterly at stated percentages through vesting dates extending to February 15, 2028, contingent on continued service.
PELOTON INTERACTIVE, INC. Chief Operating Officer Charles Peter Kirol exercised Restricted Stock Units covering 17,224 shares of Class A Common Stock on May 15, 2026. To cover related tax obligations, 6,210 shares were withheld at $5.29 per share, and he now directly holds 132,456 shares of Class A Common Stock.
Each RSU represents a contingent right to receive one Class A share. The RSUs vest as to 6.25% of the total shares on November 15, 2025, then 6.25% vests quarterly thereafter, with 100% scheduled to vest on August 15, 2029, subject to his continued service.
Peloton Interactive Chief Product Officer Nick V. Caldwell reported routine equity compensation activity. On May 15, 2026, 119,331 Restricted Stock Units vested and converted into Class A Common Stock. Of these, 64,192 shares, valued at $5.29 per share, were withheld to cover tax obligations rather than sold on the open market. Following these transactions, Caldwell directly holds 936,095 shares of Peloton Class A Common Stock.
Peter C. Stern, President and CEO of Peloton Interactive, reported the settlement of 59,713 Restricted Stock Units into an equal number of Class A Common Stock shares on May 15, 2026, through a derivative exercise. A related tax-withholding transaction disposed of 30,484 shares at $5.2900 per share. After these transactions, he directly held 374,041 shares of Class A Common Stock. An RSU award is scheduled to vest 6.25% on November 15, 2025 and 6.25% quarterly thereafter, with 100% of the shares vesting on August 15, 2029, subject to continued service.
PELOTON INTERACTIVE, INC. interim CFO and CAO Saqib Baig executed an open-market sale of 15,000 shares of Class A Common Stock at $5.50 per share on 2026-04-27. Following this transaction, he directly holds 199,059.47 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan adopted on 2025-09-02.
PELOTON INTERACTIVE, INC. Chief Operating Officer Charles Peter Kirol sold 3,670 shares of Class A Common Stock in an open-market transaction on April 20, 2026 at a weighted average price of $5.163 per share. The sale was executed under a Rule 10b5-1 trading plan adopted on May 29, 2025, and Kirol now holds 121,442 shares directly.
Peloton Interactive Chief Operating Officer Charles Peter Kirol reported routine stock transactions linked to restricted stock units (RSUs). On April 15, 2026, he exercised RSUs covering 56,510 shares of Class A Common Stock at a conversion price of $0.00 per share, receiving the same number of shares.
Following the RSU settlement, on April 16, 2026 he sold 19,806 shares of Class A Common Stock in open-market trades at a weighted average price of $5.0205 per share, with individual prices ranging from $5.0200 to $5.0650. A footnote states the sale was made solely to cover his tax liability from the RSU settlement.
After these transactions, Kirol directly held 125,112 shares of Class A Common Stock and 452,080 RSUs, which vest quarterly in 1/12 installments beginning July 15, 2025, contingent on his continued service.
Sanders Dion C. reported acquisition or exercise transactions in this Form 4 filing.
Peloton Interactive reported that Chief Commercial Officer Dion C. Sanders received a grant of 916,231 Restricted Stock Units (RSUs). Each RSU represents a contingent right to receive one share of Peloton’s Class A Common Stock, providing equity-based compensation rather than a cash payment.
The RSUs vest over time: 1/12 of the total grant vests on November 15, 2026, with an additional 1/12 vesting quarterly thereafter, as long as Sanders continues providing service to the company on each vesting date. Following this grant, he is reported as holding 916,231 RSUs directly.
Caldwell Nick V. reported acquisition or exercise transactions in this Form 4 filing.
Peloton Interactive, Inc. granted Chief Product Officer Nick V. Caldwell 916,231 Restricted Stock Units (RSUs), each representing a right to receive one share of Class A Common Stock. This is a stock-based compensation award, not an open-market share purchase or sale.
The RSUs vest over time: 1/12 of the total grant vests on November 15, 2026, and an additional 1/12 vests quarterly thereafter. Vesting is contingent on Caldwell continuing to provide services to Peloton on each vesting date. After this grant, he directly holds 916,231 RSUs reported in this filing.
PELOTON INTERACTIVE, INC. Chief Financial Officer Elizabeth F. Coddington exercised restricted stock units and sold the resulting shares. On March 13, 2026, she converted 21,819 RSUs, each into one share of Class A Common Stock at a conversion price of $0.00 per share. On March 16, 2026, she sold 21,819 Class A shares in open-market transactions at a weighted average price of $3.8728 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on May 16, 2025. After these transactions, she directly holds 346,535 shares of Peloton Class A Common Stock.
Peloton Interactive’s Chief Product Officer Nick V. Caldwell exercised 115,741 Restricted Stock Units on March 15, 2026, receiving the same number of Class A Common shares at a conversion price of $0.0000 per share. Each RSU represents a right to one Class A share.
On March 16, 2026, Caldwell sold 42,632 Class A shares in an open-market transaction at a weighted average price of $3.8649 per share, solely to cover tax liabilities from the RSU settlement. After the sale, he directly held 880,956 Class A shares. The RSUs vest 25% on November 1, 2024 and 6.25% quarterly from December 15, 2024, with full vesting by September 15, 2027, subject to continued service.
Peloton Interactive director Karen Boone exercised restricted stock units, receiving 9,023 shares of Class A Common Stock on March 9, 2026. Following this transaction, she directly holds 252,040 shares of Class A Common Stock and 27,068 RSUs.
Each RSU represents a right to receive one share of Class A Common Stock. The RSUs vest in four equal 25% installments on March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual stockholder meeting, contingent on continued service.
PELOTON INTERACTIVE, INC. director Chris Bruzzo reported an automatic equity award vesting. On March 9, 2026, a restricted stock unit grant covering 9,023 shares was exercised, delivering 9,023 shares of Class A Common Stock at no exercise price. Following the transaction, he directly holds 250,191 Class A shares. The underlying RSU award vests in four equal quarterly installments during 2026, subject to continued service, so additional shares may be delivered on future vesting dates.
Peloton Interactive director Angel L. Mendez acquired 9,023 shares of Class A common stock through the vesting and exercise of restricted stock units on March 9, 2026. After this transaction, he directly owns 124,589 common shares. Each RSU converts into one share, with remaining RSUs scheduled to vest in quarterly installments through late 2026, subject to continued service.
PELOTON INTERACTIVE, INC. director Tara Comonte reported equity compensation activity involving 8,459 shares. An RSU award covering 8,459 underlying shares of Class A Common Stock was exercised, and 8,459 shares of Class A Common Stock were acquired at a price of $0.00 per share as a grant/award. Following these transactions, Comonte directly holds 52,666 shares of Class A Common Stock. Each RSU represents a right to receive one share, with the award scheduled to vest in four 25% installments on March 9, 2026, June 9, 2026, September 9, 2026, and the earlier of December 9, 2026 or the 2026 annual meeting of stockholders, subject to continued service.