Form 4: Fulgent Genetics CEO Hsieh Reports RSU Vesting, New Grant

Fulgent Genetics CEO Ming Hsieh reported significant RSU vesting events and a new restricted stock unit grant, alongside shares withheld for tax obligations.

Summary

• Ming Hsieh, CEO, Director, and 10% Owner of Fulgent Genetics, Inc. (FLGT), reported multiple transactions involving company common stock.
• On February 23, 2026, 2,167 shares were withheld at $23.01 to cover tax obligations from the vesting of restricted stock units granted on February 23, 2023.
• On February 24, 2026, Hsieh acquired a total of 118,145 shares through the vesting of performance-based restricted stock units from grants made on February 23, 2023 (19,067 shares), February 26, 2024 (39,802 shares), and February 25, 2025 (59,276 shares). These shares were acquired at a price of $0.
• Also on February 24, 2026, a total of 63,344 shares were withheld at $23.09 to satisfy tax withholding obligations related to the vesting of the performance-based restricted stock units from the 2023, 2024, and 2025 grants.
• A new grant of 69,294 restricted stock units was reported on February 24, 2026, which will vest over three years, with the first third vesting 12 months after March 1, 2026, and subsequent vesting quarterly over the remaining 24 months.
• Following these transactions, Hsieh directly beneficially owns 851,855 shares of common stock.
• Indirect beneficial ownership includes 7,895,115 shares via the Dynasty Trust, 220,816 shares via The Ming Hsieh Trust, 1,000 shares in a Uniform Transfers to Minor Act account, and 1,000 shares held by an immediate family member.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing positively as it reflects the successful vesting of performance-based RSUs, indicating the achievement of company milestones, and a new RSU grant, reinforcing the CEO's long-term commitment to Fulgent Genetics.

Positives

• Significant vesting of performance-based restricted stock units (118,145 shares), indicating the achievement of performance milestones for grants from 2023, 2024, and 2025.
• A new grant of 69,294 restricted stock units demonstrates continued long-term incentive alignment between the CEO and shareholder interests.

Negatives

• A total of 65,511 shares were withheld to cover tax obligations, reducing the direct share count from the vested units.

Future Outlook

The new grant of 69,294 restricted stock units indicates a future vesting schedule, with the first 1/3rd vesting 12 months after March 1, 2026, and the remainder vesting quarterly over the subsequent 24 months, contingent on continued service. This suggests a long-term commitment from the CEO.

Industry Context

StockSavvy.ai notes that executive compensation through restricted stock units, particularly performance-based ones, is a common practice in the biotechnology and diagnostics industry, aligning executive incentives with company performance and shareholder value creation. The vesting of performance-based RSUs suggests the company met specific operational or financial targets.

Related Party Transactions

• Ming Hsieh is the grantor of the Dynasty Trust and trustee of The Ming Hsieh Trust, which hold significant indirect beneficial ownership of Fulgent Genetics common stock.
• Shares are also held in a Uniform Transfers to Minor Act account where Ming Hsieh acts as custodian and by an immediate family member residing in the same household.

Stakeholder Impact

• Shareholders: The vesting of performance-based RSUs suggests the company met certain performance targets, which could be viewed positively. The new RSU grant aligns the CEO's long-term interests with shareholder value.
• Employees: The executive compensation structure, including RSU grants, sets a precedent for incentive programs within the company.

Next Steps

• The new grant of 69,294 restricted stock units will begin vesting 12 months after March 1, 2026, with 1/3rd vesting then, and 1/12th vesting every three months thereafter for 24 months, subject to continued service.

Key Dates

Recommendation

The filing details routine executive compensation events (RSU vesting, tax withholding, new RSU grant). While the vesting of performance-based units is a positive signal of past performance, these are expected events and do not fundamentally alter the company's immediate operational or financial outlook. The new RSU grant reinforces long-term alignment but doesn't provide new information warranting a change in investment stance based solely on this filing. Investors should hold and monitor broader company performance and market conditions.

Keywords

Fulgent Genetics, FLGT, Ming Hsieh, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Performance-based RSUs, Executive Compensation, Stock Ownership, Tax Withholding