Form 4: Analog Devices CEO's Trust Transfers Shares

Analog Devices CEO Vincent Roche reported changes in beneficial ownership related to the termination of a 2023 Grantor Retained Annuity Trust.

Summary

• Vincent Roche, Chair & CEO of Analog Devices Inc. (ADI), reported changes in his beneficial ownership of company common stock.
• On October 7, 2025, 11,306 shares were transferred from the Vincent Roche 2023 Grantor Retained Annuity Trust (GRAT) to the Vincent Roche 2023 Irrevocable Trust upon the GRAT's termination.
• Roche does not have a pecuniary interest in the shares held by the 2023 Irrevocable Trust.
• An additional 23,522 shares were disbursed from the 2023 GRAT to Vincent Roche on October 7, 2025, fulfilling the GRAT's annuity obligation.
• Following these transactions, Roche directly beneficially owns 163,640.462 shares of common stock, which includes the 23,522 shares disbursed from the 2023 GRAT.
• Roche also indirectly beneficially owns 23,515 shares through the Vincent Roche 2024 Grantor Retained Annuity Trust.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction related to the termination of a Grantor Retained Annuity Trust and subsequent share transfers, which is a common estate planning tool. It does not indicate any operational or financial performance changes for the company.

Positives

• The disbursement of 23,522 shares from the 2023 GRAT to Vincent Roche increases his direct beneficial ownership in the company.

Negatives

• The transfer of 11,306 shares to an irrevocable trust, in which Vincent Roche has no pecuniary interest, reduces his reportable beneficial ownership.

Future Outlook

Not applicable. This filing does not provide forward-looking statements or guidance.

Industry Context

This filing details a routine insider transaction related to estate planning and does not provide information relevant to broader industry trends or competitors.

Related Party Transactions

• The transactions involve Grantor Retained Annuity Trusts (GRATs) established by Vincent Roche, which are a form of related party arrangement for estate planning purposes. The filing describes the execution of pre-existing trust terms rather than new business dealings.

Stakeholder Impact

• Shareholders: Minimal direct impact. The transaction is a planned estate management activity by the CEO and does not reflect on the company's operational performance or strategic direction.
• Employees, Customers, Suppliers, Creditors: No discernible impact.

Key Dates

Keywords

Analog Devices, ADI, Vincent Roche, Form 4, Insider Transaction, Beneficial Ownership, GRAT, Trust