Form 4: Viasat Executive Craig Miller Acquires 29,412 Restricted Stock Units

Craig Andrew Miller, President of Global Space Networks at Viasat Inc., acquired 29,412 restricted stock units on June 7, 2024.

Summary

• On June 7, 2024, Craig Andrew Miller, the President of Global Space Networks at Viasat Inc., acquired 29,412 restricted stock units.
• These restricted stock units represent a contingent right to receive one share of Viasat, Inc. common stock each.
• The units vest and convert into shares of common stock at a rate of 1/3 on the 13th month anniversary of the grant date, 1/3 on the second anniversary, and 1/3 on the third anniversary, subject to the reporting person's election to defer the receipt of the common stock.
• The restricted stock units are subject to forfeiture if the reporting person's employment or service with Viasat is terminated before vesting.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating confidence in the company's future performance. The sentiment is neutral to positive.

Positives

• The acquisition of restricted stock units aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.

Risks

• The value of the restricted stock units is contingent on the future performance of Viasat's common stock.
• The executive could forfeit the unvested units if their employment is terminated before the vesting dates.

Future Outlook

The restricted stock units will vest over a three-year period, contingent on continued employment with Viasat.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the technology and telecommunications industries, used to align management's interests with those of shareholders and incentivize long-term performance.

Comparison to Industry Standards

• Companies like Hughes Network Systems (EchoStar), SpaceX, and OneWeb also utilize equity-based compensation to incentivize their executives.
• The vesting schedules and forfeiture terms are generally consistent with industry practices, aiming to retain key personnel and align their interests with long-term shareholder value.

Stakeholder Impact

• Shareholders may view the grant of restricted stock units as a positive sign, aligning management's interests with long-term value creation.
• Employees may see this as a positive sign of the company's commitment to its leadership team.

Key Dates