Form 4: Viasat Executive Girish Chandran Reports Significant Stock Vesting and Performance-Based RSU Award

Viasat's President of Global Space Networks, Girish Chandran, reported the vesting of restricted stock units and the acquisition of new performance-based units, alongside shares withheld for tax obligations.

Summary

• Girish Chandran, President of Global Space Networks at Viasat Inc. (VSAT), reported multiple transactions related to his beneficial ownership.
• On June 7, 2025, Mr. Chandran acquired 3,681 shares of common stock and 6,251 shares of common stock through the vesting of restricted stock units, both at a price of $0.
• Concurrently, 1,983 shares and 3,367 shares were disposed of at $9.21 per share to satisfy tax withholding obligations related to the vested shares.
• Following these transactions, Mr. Chandran directly beneficially owns 42,409 shares of common stock.
• Indirectly, he owns 5,644 shares through the Viasat 401(k) Plan (including 1,940 shares acquired since the last report) and 176 shares through his spouse's 401(k).
• On May 14, 2025, the Compensation and Human Resources Committee determined that financial performance goals for the 2025 fiscal year were met, leading to the acquisition of 18,750 performance-based restricted stock units.
• These performance-based units will vest in three substantially equal annual installments beginning June 7, 2025.

Sentiment

Score: 7

Explanation: The sentiment is positive as it indicates the achievement of financial performance goals and the vesting of executive compensation, which aligns executive interests with shareholder value. The tax withholding is a standard, neutral event.

Positives

• Vesting of restricted stock units indicates continued employment and fulfillment of prior compensation agreements.
• Acquisition of 18,750 performance-based restricted stock units signifies that Viasat met its financial performance goals for the 2025 fiscal year.
• The increase of 1,940 shares in the Viasat 401(k) Plan since the last report indicates ongoing participation and accumulation of company stock through the plan.

Negatives

• A significant number of shares (1,983 and 3,367) were withheld by the Issuer to cover tax withholding obligations, reducing the net shares received by the reporting person.

Future Outlook

The document indicates that performance-based restricted stock units will vest in three substantially equal annual installments beginning June 7, 2025, suggesting continued alignment of executive compensation with future company performance.

Industry Context

This filing is a routine disclosure of executive compensation and stock ownership changes, common across publicly traded companies. It reflects standard practices for incentivizing and retaining key executives through equity awards tied to performance and tenure.

Stakeholder Impact

• Shareholders: The vesting of performance-based RSUs indicates that the company met its financial performance goals, which could be viewed positively as it suggests operational success. The increase in executive ownership aligns management interests with shareholder interests.
• Employees: The compensation structure reflects standard equity incentive programs, which can be a positive for employee morale and retention if similar programs are available.

Next Steps

• Future vesting of the remaining portions of the 14,725 restricted stock units on the second, third, and fourth anniversaries of the June 7, 2023 grant date.
• Future vesting of the 18,750 performance-based restricted stock units in two additional substantially equal annual installments after June 7, 2025.

Key Dates

Recommendation

Keywords

Viasat Inc., VSAT, SEC Form 4, Insider Trading, Stock Vesting, Restricted Stock Units, Performance-Based RSUs, Executive Compensation, Girish Chandran, Beneficial Ownership, Tax Withholding