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ILLUMINA, INC.·4

Mar 9, 5:06 PM ET

Barnard Steven 4

4 · ILLUMINA, INC. · Filed Mar 9, 2026

Research Summary

AI-generated summary of this filing

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Illumina (ILMN) CTO Steven Barnard Receives $3.25M in Stock Awards

What Happened
Steven Barnard, Senior Vice President and Chief Technology Officer of Illumina (ILMN), received equity awards on March 5, 2026. The filing shows a grant of 7,603 restricted stock units (RSUs) reported at $128.24 each (approx. $975,009) plus two performance-based derivative awards of 8,871 units each (reported values $1,137,617 at $128.24 and $1,142,053 at $128.74). In aggregate the awards total 25,345 units with a reported aggregate value of roughly $3.25 million. These awards are company compensation (acquisitions via grant), not open-market purchases.

Key Details

  • Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely filing).
  • Awards and reported values:
    • 7,603 RSUs @ $128.24 = $975,009 (non‑derivative RSU award).
    • 8,871 performance stock units (PSUs) @ $128.24 = $1,137,617 (derivative).
    • 8,871 performance stock units (PSUs) @ $128.74 = $1,142,053 (derivative).
  • Total units shown: 25,345; combined reported value ≈ $3,254,679. Actual shares received from PSUs can vary (see below).
  • Shares owned after the transaction: total balance after these grants is not explicitly stated in the filing; footnote notes 297 shares acquired previously through the Employee Stock Purchase Plan (ESPP) are included in the balance.
  • Footnotes of note:
    • F1: RSUs vest 25% annually on Feb 15 of 2027, 2028, 2029, and 2030, subject to continued service.
    • F3: One PSU award vests Dec 31, 2028 and pays 0%–250% of target based on 3‑year average consolidated non‑GAAP EPS growth (fiscal 2026–2028).
    • F4: The other PSU award vests Dec 31, 2028 and pays 0%–250% of target based on relative total shareholder return for fiscal 2028.

Context

  • RSUs are time‑based compensation that convert to shares if the executive remains employed through vesting dates (routine retention tool).
  • The PSUs are performance‑contingent derivatives: they do not guarantee a fixed number of shares — final payout can range from 0% to 250% of target depending on company performance metrics measured through 2028.
  • These awards represent compensation rather than an insider buying stock on the open market; they are common for executive pay and not a direct trading signal.

Insider Transaction Report

Form 4
Period: 2026-03-05
ILLUMINA, INC.ILMN
Barnard Steven
SVP, Chief Technology Officer
Transactions
  • Award

    Common Stock

    [F1][F2]
    2026-03-05$128.24/sh+7,603$975,009→ 41,335 total
  • Award

    Performance Shares

    [F3]
    2026-03-05$128.24/sh+8,871$1,137,617→ 8,871 total
    Exp: 2028-12-31→ Common Stock (8,871 underlying)
  • Award

    Performance Shares

    [F4]
    2026-03-05$128.74/sh+8,871$1,142,053→ 8,871 total
    Exp: 2028-12-31→ Common Stock (8,871 underlying)
Footnotes (4)
  • [F1]Grant of restricted stock units shall vest as follows: 25% of the shares subject to the award shall vest on each of February 15, 2027, February 15, 2028, February 15, 2029, and February 15, 2030, subject to awardee's continuing status as a service provider on such dates.
  • [F2]Balance includes 297 shares acquired through Employee Stock Purchase Plan.
  • [F3]Each performance stock unit represents a contingent right to receive one share of common stock based on the Company's three-year average consolidated non-GAAP earnings per share growth for fiscal years 2026-2028 with vesting on December 31, 2028. The number of shares issued will range from 0% to 250% of the amount specified above, based on the Company's actual three-year average consolidated non-GAAP earnings per share growth for fiscal years 2026-2028, relative to pre-defined objectives, subject to awardee's continuing to be a service provider on such dates.
  • [F4]Each performance stock unit represents a contingent right to receive one share of common stock based on the Company's relative total shareholder return for the fiscal year ending December 31, 2028. The number of shares issued will range from 0% to 250% of the amount specified above, based on the company's relative total shareholder return for the fiscal year ending December 31, 2028, relative to pre-defined objectives, subject to the awardee's continuing status as a service provider on such dates.
Signature
By: Robert Maynes for Steven Barnard|2026-03-09

Documents

1 file
  • 4
    form4.xmlPrimary

    PRIMARY DOCUMENT