Form 4: Pure Storage Executive Acquires Shares Following Performance Goal Achievement

Dan FitzSimons, Chief Revenue Officer of Pure Storage, acquired 55,149 shares of Class A Common Stock following the vesting of a Performance-Based Restricted Stock Unit (PRSU) award.

Summary

• Dan FitzSimons, Chief Revenue Officer of Pure Storage, acquired 55,149 shares of Class A Common Stock on March 15, 2025.
• The acquisition resulted from the vesting of a Performance-Based Restricted Stock Unit (PRSU) award.
• The Issuer's Compensation & Talent Committee authorized the issuance of these shares based on the achievement of certain performance goals for the fiscal year ending February 2, 2025.
• The vesting was subject to the Committee's determination of performance achievement, which occurred on March 15, 2025.
• One-third of the PRSU will vest on March 20, 2025, with the remaining vesting quarterly in equal installments over the next two years, contingent upon the Reporting Person's Continuous Service.
• Following the transaction, FitzSimons directly owns 128,076 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the vesting of shares indicates the achievement of performance goals, reflecting well on the company's performance. However, it's a routine transaction.

Positives

• The vesting of the PRSU indicates that performance goals for the fiscal year ending February 2, 2025, were met.
• The acquisition of shares by a key executive demonstrates confidence in the company's future performance.

Risks

• Future vesting of the remaining PRSU is contingent upon the Reporting Person's Continuous Service, introducing a potential risk if the executive were to leave the company.

Future Outlook

The remaining PRSU shares will vest quarterly in equal installments over the next two years, subject to the Reporting Person's Continuous Service.

Industry Context

Executive stock awards are a common practice in the technology industry to incentivize performance and align management's interests with those of shareholders.

Stakeholder Impact

• The vesting of shares can positively impact shareholder confidence, as it aligns executive compensation with company performance.

Next Steps

• Continued vesting of the remaining PRSU shares over the next two years.

Key Dates