VIAV Insider Report: Paul McNab MSUs Vest, Shares Retained for Taxes
Rhea-AI Filing Summary
VIAVI Solutions (VIAV) Form 4: Paul McNab, EVP, Chief Marketing & Strategy Officer, reported multiple transactions on 09/23/2025 related to market stock units and retained shares for tax withholding. Several tranches of market-leveraged stock units vested at differing payout levels: 56.67% (granted Aug 28, 2022), 90.33% (granted Aug 28, 2023) and 128.00% (granted Aug 28, 2024). Following the reported transactions, Mr. McNab beneficially owned 80,954 shares at one point and 68,774 shares at another, with exercised/converted units delivered as common stock at $0 per share and certain shares retained by the company to cover tax withholding at $12.41 per share.
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Insights
TL;DR: Routine executive equity vesting posted; no new cash purchases disclosed and transactions reflect compensation vesting mechanics.
The filing documents standard vesting and conversion of market stock units into common shares and company retention of shares to satisfy tax-withholding obligations. Vesting percentages are explicitly tied to total stockholder return performance metrics for grants from 2022, 2023 and 2024. The transactions include grant-based conversions at $0 per share and share retentions at $12.41 per share for tax withholding; there is no indicated sale of shares beyond withholding. Impact on outstanding share count and dilution is not provided in this filing.
TL;DR: Disclosure shows compensation-aligned vesting; all actions are standard and documented according to Section 16 requirements.
The report clearly ties vesting outcomes to performance-based vesting metrics and discloses the mechanics of tax withholding via share retention. Signature by an attorney-in-fact is present. The filing does not disclose any departures from typical executive compensation practices or any transfers indicating insider selling beyond tax-related retentions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Market Stock Units | 5,614 | $0.00 | -- |
| Exercise | Market Stock Units | 11,633 | $0.00 | -- |
| Exercise | Market Stock Units | 23,984 | $0.00 | -- |
| Exercise | Common Stock | 5,614 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,851 | $12.41 | $35K |
| Exercise | Common Stock | 11,633 | $0.00 | -- |
| Tax Withholding | Common Stock | 5,908 | $12.41 | $73K |
| Exercise | Common Stock | 23,984 | $0.00 | -- |
| Tax Withholding | Common Stock | 12,180 | $12.41 | $151K |
Footnotes (1)
- Each stock unit converts upon vesting into one share of common stock. These shares were retained by the Company in order to meet the tax withholding obligations of the award-holder in connection with the vesting of an installment of the restricted stock award or performance stock award, as applicable. The amount retained by the Company was not in excess of the amount of the tax liability. Shares reflect the vesting of the 3rd tranche of market-leveraged stock units granted on August 28, 2022 at 56.67% of target based on our total stockholder return during the performance periods as stated on the grant agreement. There are no expiration dates on MSUs. Shares reflect the vesting of the 2nd tranche of market-leveraged stock units granted on August 28, 2023 at 90.33% of target based on our total stockholder return during the performance periods as stated on the grant agreement. Shares reflect the vesting of the 1st tranche of market-leveraged stock units granted on August 28, 2024 at 128.00% of target based on our total stockholder return during the performance periods as stated on the grant agreement.
