LYNN JESSE 4

What Happened

• Lynn Jesse, a director of JetBlue Airways (JBLU), had 22,094 derivative awards convert to common shares on March 10, 2026 and an equal number (22,094) were recorded as disposed the same day. The filing also shows a grant of 29,867 deferred stock units (DSUs) on March 10, 2026. No per-share prices or cash values are reported in the filing excerpt.
• Net immediate change in owned shares from the conversion/disposition is zero (22,094 acquired then 22,094 disposed). The 29,867 DSUs are derivative awards that will convert to one share each upon vesting per the DSU terms.

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (timely filing).
• Converted/exercised derivative: 22,094 shares (listed as acquisition via conversion), and 22,094 shares listed as disposed the same day. No dollar amounts or prices reported.
• Award/grant: 29,867 DSUs (deferred stock units) granted on March 10, 2026.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes from the filing:
  • F1: Upon vesting, each restricted stock unit converts to one share of common stock.
  • F2: DSUs entitle the holder to one share upon vesting; settlement of vested DSUs occurs six months after the director leaves the board. Annual DSU grant vests one year after the grant date.
  • F3: The DSU award vests over one year measured from a vesting commencement date of March 10, 2026.
  • F4: Director restricted stock units referenced vest on the one-year anniversary of the March 10, 2025 grant date.

Context

• The filing shows a conversion of derivative awards (commonly RSUs or similar restricted units) into shares and an immediate disposition of the same number of shares. This pattern is often seen when shares vest and a portion or all are sold (or transferred) to satisfy tax withholding or other obligations, but the filing does not state the reason for the disposition.
• The 29,867 DSUs are deferred, not yet settled shares; they will convert to shares only upon vesting and then are settled per the DSU rules (including the six-month post-departure settlement provision).