Form 4: Viasat SVP, Chief Accounting Officer Reports Significant Stock Vesting and Tax Withholdings

Viasat's SVP and Chief Accounting Officer, Shawn Lynn Duffy, reported the vesting of restricted stock units and subsequent tax-related share dispositions, alongside new performance-based RSU grants and employee stock plan acquisitions.

Summary

• Shawn Lynn Duffy, SVP and Chief Accounting Officer of Viasat Inc. (VSAT), reported multiple transactions involving Viasat common stock.
• On June 7, 2025, Duffy acquired 5,154 shares and 7,353 shares of common stock at a price of $0, resulting from the vesting of restricted stock units.
• Concurrently, 2,776 shares and 3,960 shares were disposed of at $9.21 per share to satisfy tax withholding obligations related to the vested stock.
• Following these transactions, Duffy's direct beneficial ownership of common stock is 79,415 shares.
• An additional 5,141 shares are held indirectly through a 401(k) plan, including 1,727 shares acquired since the last report.
• The report also includes 825 shares purchased under the Viasat Employee Stock Purchase Plan on January 31, 2025.
• On May 14, 2025, the Compensation and Human Resources Committee confirmed that financial performance goals for the 2025 fiscal year were met, leading to the vesting of 22,059 performance-based restricted stock units granted on June 7, 2024.
• These performance-based RSUs will vest in three substantially equal annual installments starting June 7, 2025.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. While the core transactions are routine (vesting, tax withholding), the confirmation that Viasat met its financial performance goals for the 2025 fiscal year, leading to the vesting of performance-based restricted stock units, is a strong positive indicator of the company's operational success against its own targets. The employee stock purchases also add a positive note.

Positives

• Vesting of 5,154 and 7,353 restricted stock units, indicating fulfillment of prior compensation agreements.
• Acquisition of 22,059 performance-based restricted stock units due to the Issuer meeting financial performance goals for the 2025 fiscal year, as determined by the Compensation and Human Resources Committee on May 14, 2025. This suggests strong company performance against set targets.
• Purchase of 825 shares under the Viasat Employee Stock Purchase Plan on January 31, 2025, indicating employee investment in the company.
• Acquisition of 1,727 shares through the Viasat 401(k) Plan since the last ownership report, further increasing indirect ownership.

Negatives

• Disposition of 2,776 and 3,960 shares of common stock to cover tax withholding obligations, which reduces the net shares received by the reporting person. This is a standard practice for equity compensation.

Risks

• Restricted stock units are subject to forfeiture in the event of termination of employment or service with the Issuer until vested.

Future Outlook

The performance-based restricted stock units granted on June 7, 2024, and confirmed to have met financial performance goals on May 14, 2025, are scheduled to vest in three substantially equal annual installments beginning on June 7, 2025. Other restricted stock units granted on June 7, 2023, will continue to vest at a rate of 1/4 on the 13th month anniversary of the grant date and 1/4 on each of the second, third, and fourth anniversary of the grant date.

Industry Context

This Form 4 filing details routine executive compensation transactions, including the vesting of restricted stock units and tax-related share dispositions, for a Viasat Inc. executive. Such filings are standard for publicly traded companies and reflect the compensation structure for senior management, often tied to company performance and long-term incentives. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• Acquisition of common stock through vesting of restricted stock units from Viasat Inc.
• Disposition of common stock to Viasat Inc. for tax withholding obligations.
• Purchase of shares under the Viasat Employee Stock Purchase Plan.
• Acquisition of shares under the Viasat 401(k) Plan.

Stakeholder Impact

• Shareholders: The report indicates that Viasat met its financial performance goals for FY2025, which could be viewed positively as it suggests effective management and achievement of internal targets. The increase in insider ownership (through vesting and plan purchases, despite tax sales) can be seen as alignment of interests.
• Employees: The vesting of restricted stock units and participation in employee stock plans demonstrate the company's compensation structure and incentives for its senior personnel.

Next Steps

• The performance-based restricted stock units will vest in three substantially equal annual installments beginning on June 7, 2025.
• Remaining restricted stock units from the June 7, 2023 grant will continue to vest annually.

Key Dates

Keywords

Viasat, VSAT, Form 4, SEC filing, insider trading, stock ownership, restricted stock units, RSU, performance-based compensation, employee stock purchase plan, 401(k), executive compensation, Shawn Lynn Duffy, Chief Accounting Officer