Form 4: Viasat CFO Sells Shares, Vests RSUs

Viasat's Chief Financial Officer, Garrett L. Chase, reported the sale of 25,000 common shares and the vesting of 26,048 restricted stock units, with a portion withheld for taxes.

Summary

• Garrett L. Chase, SVP and Chief Financial Officer of Viasat Inc. (VSAT), reported transactions involving the company's common stock.
• On September 15, 2025, Mr. Chase sold 25,000 shares of common stock at a price of $33.33 per share.
• On September 16, 2025, 26,048 restricted stock units (RSUs) vested and converted into common stock.
• Concurrently with the RSU vesting, 11,654 shares were withheld by the issuer to satisfy tax withholding obligations at a price of $31.69 per share.
• The original RSU grant was for 78,143 units on September 16, 2024, vesting in three equal annual installments.
• Following these transactions, Mr. Chase directly beneficially owns 32,771 shares of common stock and indirectly owns 657 shares via a 401(k) plan.
• Additionally, Mr. Chase beneficially owns 52,095 derivative restricted stock units.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a discretionary sale of common shares by a key executive, which was not under a 10b5-1 plan, resulting in a net reduction of direct holdings. While RSU vesting is a positive compensation event, the discretionary selling activity can be viewed cautiously by investors.

Positives

• The vesting of 26,048 restricted stock units represents a scheduled compensation event for the Chief Financial Officer, converting equity awards into common stock.

Negatives

• A discretionary sale of 25,000 common shares by the Chief Financial Officer occurred, which was not indicated as being made pursuant to a Rule 10b5-1 trading plan.
• After accounting for the sale, RSU vesting, and tax withholding, there was a net reduction of 10,606 direct common shares held by the CFO (from an estimated 43,377 to 32,771 shares).

Risks

• Insider selling, especially when not pre-scheduled under a 10b5-1 plan, can sometimes be interpreted by the market as a signal of reduced confidence or a need for personal liquidity, potentially impacting investor sentiment.

Future Outlook

The remaining 52,095 restricted stock units are scheduled to vest in two equal annual installments on the second and third anniversaries of the September 16, 2024 grant date, subject to continued employment.

Industry Context

This Form 4 filing details an insider transaction specific to Viasat Inc. and its Chief Financial Officer. It does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders may interpret the discretionary insider selling as a signal regarding management's view of the company's near-term prospects or as a personal liquidity event for the executive.

Next Steps

• Future vesting of the remaining 52,095 restricted stock units on the second and third anniversaries of the September 16, 2024 grant date.

Key Dates

Recommendation

The filing indicates a discretionary sale of 25,000 common shares by the Chief Financial Officer, Garrett L. Chase, which was not executed under a pre-arranged 10b5-1 trading plan. While 26,048 restricted stock units vested, a net reduction of 10,606 direct common shares occurred after accounting for the sale and tax withholding. This discretionary selling by a key executive, coupled with a net decrease in direct holdings, could be interpreted as a cautious signal, warranting a 'hold' recommendation for investors to further assess the company's performance and future outlook.

Keywords

Viasat, VSAT, Form 4, Insider Trading, Stock Sale, RSU Vesting, Executive Compensation, Garrett Chase, Beneficial Ownership