Erwin Tami A. 4

4 · F5, INC. · Filed Mar 13, 2026

AI-generated summary of this filing

Updated Mar 13, 2026

F5 (FFIV) Director Tami Erwin Exercises 934 Shares, Receives 987 RSUs

What Happened

Tami A. Erwin, a director of F5, Inc. (FFIV), reported derivative activity: on 2026-03-11 she exercised/converted 934 derivative shares (reported as acquired at $0) and simultaneously recorded a disposition of those 934 derivative shares at $0 (derivative conversion/transfer). On 2026-03-12 she was granted 987 restricted stock units (RSUs) at $0 (contingent right to receive shares upon vesting). All reported values are $0, indicating conversion/grant activity rather than a cash purchase or sale.

Key Details

Transaction dates and codes: 2026-03-11 (M = exercise/conversion of derivative) — 934 shares acquired and 934 shares disposed, $0 price; 2026-03-12 (A = grant/award) — 987 RSUs granted, $0 price.
Reported total value for each line: $0 (conversion/grant entries).
Shares owned after the transactions: not stated in the filing.
Notable footnotes: F1 — the 934 shares are held in a trust for which Ms. Erwin and her spouse are grantors/trustees/beneficiaries; F2 — each RSU equals a contingent right to one share; F3/F4/F5 — RSUs vest only if she continues to serve through the stated vest date (vesting tied to upcoming annual meetings).
Filing timeliness: Report period is 2026-03-11 and the Form 4 was filed 2026-03-13 (within the typical two-business-day reporting window).

Context

The $0 exercise/transfer typically reflects conversion of a derivative award (e.g., vested units) and not an open-market purchase. The immediate disposition at $0 likely represents a transfer into the family trust (per F1), not a market sale.
The 987 RSUs are awards that will convert to shares only if vesting conditions are met (service through the vest date). Such grants are routine director compensation and do not by themselves indicate buying or selling sentiment.

Form 4

Period: 2026-03-11

Director

Transactions

Exercise/Conversion
Common Stock
2026-03-11+934→ 2,842 total
Exercise/Conversion
Restricted Stock Unit
[F2][F3][F4]
2026-03-11−934→ 0 total
Exercise: $0.00→ Common Stock (934 underlying)
Award
Restricted Stock Unit
[F2][F5][F4]
2026-03-12+987→ 987 total
Exercise: $0.00→ Common Stock (987 underlying)

Holdings

Footnotes (5)

[F1]These shares are held in a trust with respect to which Ms. Erwin and her spouse are grantors, trustees and beneficiaries.
[F2]Each Restricted Stock Unit represents a contingent right to receive one share of F5, Inc. Common Stock on the vest date.
[F3]Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2025 (to be held in 2026) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.
[F4]If the reporting person continues to provide services to the Company through the vest date, the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.
[F5]Restricted Stock Units will fully vest on the first business day prior to the date of the annual shareholder meeting for fiscal 2026 (to be held in 2027) if the reporting person continues to serve as a director on the vest date, and the corresponding number of shares of Common Stock of F5, Inc. will be issued to the reporting person on the vest date.

Signature

/s/ Angelique M. Okeke by Power of Attorney|2026-03-13

1 file