Form 4: Pure Storage Executive John Colgrove Acquires Shares Following Performance-Based Vesting

Chief Visionary Officer John Colgrove acquired 113,470 shares of Pure Storage Class A Common Stock following the vesting of a performance-based restricted stock unit (PRSU) award.

Summary

• On March 13, 2024, John Colgrove, Chief Visionary Officer of Pure Storage, Inc., acquired 113,470 shares of Class A Common Stock.
• This acquisition resulted from the vesting of a Performance-Based Restricted Stock Unit (PRSU) award.
• The vesting was authorized by the board of directors based on the achievement of certain performance goals for the fiscal year ending February 4, 2024.
• The board's determination of performance achievement and consideration of other factors occurred on March 13, 2024.
• One-third of the PRSU will vest on March 20, 2024, with the remaining vesting quarterly over the next two years, contingent upon continuous service.
• Following the transaction, Colgrove directly owns 8,374,375 shares of Class A Common Stock.
• Colgrove also indirectly owns shares through several trusts: 701,959 shares via the Colgrove Family Living Trust, 2,765,000 shares via the Eric Edward Colgrove Irrevocable Trust, and 2,765,000 shares via the Richard Winston Colgrove Irrevocable Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The vesting of shares indicates the achievement of performance goals, which is a positive sign. The executive's increased stake aligns interests with shareholders.

Positives

• The vesting of the PRSU indicates that Pure Storage achieved certain performance goals for the fiscal year ending February 4, 2024.
• Executive's increased stake in the company aligns his interests with those of shareholders.

Future Outlook

One-third of the PRSU will vest on March 20, 2024, with the remaining vesting quarterly in equal installments over the next two years, subject to Reporting Person's Continuous Service.

Industry Context

Executive stock ownership changes are common in the tech industry and are often tied to performance-based compensation plans. This transaction reflects the vesting of previously granted equity awards based on the company's performance.

Stakeholder Impact

• The vesting of shares could have a slightly positive impact on shareholder sentiment, as it indicates the achievement of performance goals.
• The increased stake of a key executive aligns his interests with those of shareholders.

Next Steps

• Remaining PRSU shares will vest quarterly over the next two years, contingent upon continuous service.

Key Dates