MORANDI BRANDI GALVIN 4
4 · EQUINIX INC · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Equinix (EQIX) CPO Brandi Morandi Galvin Sells Shares
What Happened
- Brandi Morandi Galvin, Chief People Officer of Equinix (EQIX), exercised/converted derivative awards on Feb 17, 2026 and received additional shares, and then sold 1,648 shares in open-market transactions on Feb 18, 2026 for total proceeds of about $1.46 million.
- The filing shows exercises/conversions of derivatives (zero cash price) totaling 2,979 shares on Feb 17 and a separate grant/award of 3,027 shares reported the same day. On Feb 18 she sold 1,648 shares in multiple trades at prices that averaged roughly $926–$944 per share, generating approximately $1,464,240 in proceeds.
- These sales were reported as pursuant to a 10b5-1 trading plan to raise funds to pay required withholding tax related to RSU vesting (footnote F2), so the activity appears tax/administration driven rather than a directional investment bet.
Key Details
- Transaction dates: Feb 17, 2026 (derivative exercises / awards); Feb 18, 2026 (open-market sales). Filing date: Feb 19, 2026 (timely).
- Sale quantity and proceeds: 1,648 shares sold for ~ $1,464,240 total (prices in multiple trades ranged roughly $926.29 to $943.86 per share; weighted-average prices and specific ranges are given in the filing footnotes).
- Derivative activity: Exercises/conversions on Feb 17 (M-coded) at $0.00 per share — see footnotes explaining performance RSU vesting schedules (F13–F16) and RSU expiration (F14).
- Other acquisitions: 32.243 shares acquired under Equinix’s ESPP on Feb 13, 2026 (F1).
- Reason given: Sales were pursuant to a 10b5-1 plan to cover withholding taxes for vested RSUs (F2).
- Shares owned after transaction: Not specified in the excerpt of this filing.
- Filing timeliness: Reported Feb 19 for Feb 17–18 activity; filing appears timely.
Context
- Derivative entries here reflect exercised/converted awards or vested RSUs; because some or all of the shares were immediately sold under a pre-established 10b5-1 plan to satisfy tax withholding, this pattern is common and generally administrative in nature rather than a clear buy/sell signal about the insider’s view of the stock.
- The filing includes performance-RSU vesting details (F13–F16) that explain why certain awards vested and why withholding was required.
Insider Transaction Report
Form 4
EQUINIX INCEQIX
MORANDI BRANDI GALVIN
Chief People Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-17+687→ 9,670.456 total - Exercise/Conversion
Common Stock
2026-02-17+778→ 10,448.456 total - Exercise/Conversion
Common Stock
2026-02-17+1,514→ 11,962.456 total - Sale
Common Stock
[F2][F3]2026-02-18$926.95/sh−57$52,836→ 11,905.456 total - Sale
Common Stock
[F2][F4]2026-02-18$927.93/sh−404$374,886→ 11,501.456 total - Sale
Common Stock
[F2][F5]2026-02-18$929.60/sh−147$136,651→ 11,354.456 total - Sale
Common Stock
[F2][F6]2026-02-18$930.45/sh−120$111,654→ 11,234.456 total - Sale
Common Stock
[F2][F7]2026-02-18$932.55/sh−154$143,613→ 11,080.456 total - Sale
Common Stock
[F2][F8]2026-02-18$933.83/sh−86$80,310→ 10,994.456 total - Sale
Common Stock
[F2]2026-02-18$936.36/sh−40$37,454→ 10,954.456 total - Sale
Common Stock
[F2][F9]2026-02-18$938.48/sh−200$187,697→ 10,754.456 total - Sale
Common Stock
[F2][F10]2026-02-18$939.77/sh−80$75,182→ 10,674.456 total - Sale
Common Stock
[F2][F11]2026-02-18$941.55/sh−80$75,324→ 10,594.456 total - Sale
Common Stock
[F2][F12]2026-02-18$942.70/sh−120$113,124→ 10,474.456 total - Sale
Common Stock
[F2]2026-02-18$943.86/sh−80$75,509→ 10,394.456 total - Exercise/Conversion
Restricted Stock Unit
[F13][F14]2026-02-17−687→ 0 totalExercise: $0.00→ Common Stock (687 underlying) - Exercise/Conversion
Restricted Stock Unit
[F15][F14]2026-02-17−778→ 777 totalExercise: $0.00→ Common Stock (778 underlying) - Award
Restricted Stock Unit
[F16][F14]2026-02-17+3,027→ 3,027 totalExercise: $0.00→ Common Stock (3,027 underlying) - Exercise/Conversion
Restricted Stock Unit
[F16][F14]2026-02-17−1,514→ 1,513 totalExercise: $0.00→ Common Stock (1,514 underlying)
Footnotes (16)
- [F1]32.243 shares acquired under the Equinix, Inc. Employee Stock Purchase Plan on February 13, 2026.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $939.47 to $940.08 inclusive.
- [F11]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $941.53 to $941.58 inclusive.
- [F12]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $942.60 to $942.89 inclusive.
- [F13]On February 14, 2023, the reporting person was granted performance restricted stock units, the vesting of which was subject to both continued service and the attainment of certain AFFO, Revenue and EBITDA targets for 2023. The Compensation Committee certified the degree to which the targets were achieved, therefore 50% of the award vested on February 12, 2024, 25% will vest on February 15, 2025 and the remaining 25% will vest on February 15, 2026, subject solely to continued service.
- [F14]Restricted stock unit award expires upon reporting person's termination of service.
- [F15]On March 7, 2024 the reporting person was granted performance restricted stock units, the vesting of which was subject to both continued service and the attainment of certain AFFO, Revenue and EBITDA targets for 2024. The Compensation Committee certified the degree to which the targets were achieved, therefore 50% of the award vested on February 15, 2025, 25% will vest on February 15, 2026 and the remaining 25% will vest on February 15, 2027, subject solely to continued service.
- [F16]On March 11, 2025 the reporting person was granted performance restricted stock units, the vesting of which was subject to both continued service and the attainment of certain AFFO, Revenue and EBITDA targets for 2025. The Compensation Committee certified the degree to which the targets were achieved, therefore 50% of the award vested on February 15, 2026, 25% will vest on February 15, 2027 and the remaining 25% will vest on February 15, 2028, subject solely to continued service.
- [F2]Shares were sold pursuant to a 10b5-1 Trading Plan in order to raise funds to pay the required withholding tax pursuant to the vesting of RSUs.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $926.29 to $927.26, inclusive. The reporting person undertakes to provide to Equinix, Inc, any security holder of Equinix Inc, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 4 through 12 to this Form 4.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $927.34 to $928.00 inclusive.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $929.31 to $930.31 inclusive.
- [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $930.37 to $930.56 inclusive.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $932.25 to $933.22 inclusive.
- [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $933.35 to $934.29 inclusive.
- [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $938.00 to $938.91 inclusive.
Signature
/s/ Samantha Lagocki, POA|2026-02-19