Chandrasena Gillian 4
4 · MiniMed Group, Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
MiniMed (MMED) SVP Gillian Chandrasena Receives Stock Awards
What Happened
Gillian Chandrasena, Senior Vice President and Chief Human Resources Officer of MiniMed Group, received a total of 129,765 restricted stock units (RSUs) on March 11, 2026. These RSUs were issued upon conversion of previously held Medtronic restricted and performance awards as part of MiniMed’s separation from Medtronic. No per-share price or immediate cash value is reported (price listed as N/A); the awards vest on various dates between 2026 and 2028 under MiniMed’s 2026 Long Term Incentive Plan.
Key Details
- Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely filing).
- Total RSUs granted/converted: 129,765 shares (comprised of multiple converted awards).
- Price: N/A (conversion, not an open-market purchase or sale).
- Vesting: Awards vest on different schedules — some in three equal installments (July 28, 2026/2027/2028), some in two installments (March 3, 2027/2028), and some on single dates in 2027 or 2028 (per filing).
- Conversion basis: RSUs were converted from Medtronic awards pursuant to the Employee Matters Agreement, using average Medtronic and MMED stock prices around the separation dates.
- Shares after transaction: Not disclosed in this Form 4.
- Transaction code: A = Award/Grant. No 10b5-1 plan, tax-withholding, or late-filing flags disclosed.
Context
These grants are a conversion of legacy Medtronic equity into MiniMed RSUs as part of the corporate separation, not a market purchase or sale by the insider. Converted RSUs typically vest over time and do not necessarily indicate immediate buying or selling intent by the insider. For retail investors, such awards are routine in spin-offs and reflect compensation/retention arrangements rather than an immediate bullish or bearish trading signal.
Insider Transaction Report
- Award
Common Stock
[F1][F2][F3][F4]2026-03-11+19,852→ 19,852 total - Award
Common Stock
[F1][F2][F5][F4]2026-03-11+28,116→ 28,116 total - Award
Common Stock
[F1][F2][F6][F4]2026-03-11+58,825→ 58,825 total - Award
Common Stock
[F1][F2][F7][F4]2026-03-11+11,486→ 11,486 total - Award
Common Stock
[F1][F2][F8][F4]2026-03-11+11,486→ 11,486 total
Footnotes (8)
- [F1]In connection with MMED's separation from Medtronic plc ("Medtronic") effective March 9, 2026 (the "Separation"), as further described in MMED's current report on Form 8-K filed on March 9, 2026, certain restricted stock units and performance share units granted by Medtronic held by the Reporting Person (the "Medtronic Awards") were converted into time-vesting restricted stock units denominated in shares of MMED's common stock ("MMED RSUs") pursuant to the terms of the Employee Matters Agreement, dated as of March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc. (the "EMA").
- [F2]Pursuant to the terms of the EMA, the Medtronic Awards were converted into MMED RSUs based, in part, on (i) the average closing trading price of a Medtronic ordinary share for the last three consecutive trading days ending on March 6, 2026 and (ii) the average closing trading price of a share of MMED common stock for three consecutive trading days starting with and including March 9, 2026 (the "Equity Award Conversion").
- [F3]Represents the grant of MMED RSUs upon the conversion of certain Medtronic Awards held by the Reporting Person pursuant to the Equity Award Conversion. The MMED RSUs were granted pursuant to the 2026 MiniMed Group, Inc. Long Term Incentive Plan (the "LTIP") and vest in three equal installments on July 28, 2026, July 28, 2027 and July 28, 2028.
- [F4]Includes shares to be issued in connection with the vesting of one or more restricted stock units.
- [F5]Represents the grant of MMED RSUs upon the conversion of certain Medtronic Awards held by the Reporting Person pursuant to the Equity Award Conversion. The MMED RSUs were granted pursuant to the LTIP and vest in two equal installments on March 3, 2027 and March 3, 2028
- [F6]Represents the grant of MMED RSUs upon the conversion of certain Medtronic Awards held by the Reporting Person pursuant to the Equity Award Conversion. The MMED RSUs were granted pursuant to the LTIP and vest on April 30, 2027.
- [F7]Represents the grant of MMED RSUs upon the conversion of certain Medtronic Awards held by the Reporting Person pursuant to the Equity Award Conversion. The MMED RSUs were granted pursuant to the LTIP and vest on April 28, 2028.
- [F8]Represents the grant of MMED RSUs upon the conversion of certain Medtronic Awards held by the Reporting Person pursuant to the Equity Award Conversion. The MMED RSUs were granted pursuant to the LTIP and vest on July 28, 2028.