03/17/2026 | Press release | Distributed by Public on 03/17/2026 19:20
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Option (Right to Buy) | $9.08 | 03/15/2026 | A | 168,750 | 03/15/2026 | 03/01/2034 | Common Stock | 168,750 | $ 0 | 302,022(3) | D | ||||
| Stock Option (Right to Buy) | $11.9 | 03/15/2026 | A | 90,000 | 03/15/2026 | 08/29/2034 | Common Stock | 90,000 | $ 0 | 180,000(4) | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Joshi Aman 4353 NORTH FIRST STREET SAN JOSE, CA 95134 |
Chief Commercial Officer | |||
| /s/ Shawn M. Soderberg, as attorney-in-fact | 03/17/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Sale of shares to cover tax withholding obligation incurred upon settlement of restricted stock units effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 26, 2025. |
| (2) | The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $150.58 to $161.47. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price. |
| (3) | On March 1, 2024, the Reporting Person was granted an option to purchase 450,000 shares of the Company's Class A Common Stock. The option vests in four annual installments based on the Reporting Person's satisfaction of certain performance criteria, and subject to the Reporting Person's continued service through each applicable vesting date. The performance criteria for the second installment exceeded target as determined by the Compensation Committee on February 19, 2026, which resulted in a payout of 150% of target, resulting in the vesting of the option to purchase 168,750 shares of the Company's Class A Common Stock. |
| (4) | On August 29, 2024, the Reporting Person was granted an option to purchase 180,000 shares of the Company's Class A Common Stock. The option vests in three annual installments based on the Reporting Person's satisfaction of certain performance criteria, and subject to the Reporting Person's continued service through each applicable vesting date. The performance criteria for the second installment exceeded target as determined by the Compensation Committee on February 19, 2026, which resulted in a payout of 150% of target, resulting in the vesting of the option to purchase 90,000 shares of the Company's Class A Common Stock. |