Form 4: Viasat SVP Craig Miller Reports Significant Stock Transactions, Including RSU Vesting and Tax Withholdings

Viasat's Senior Vice President of Strategic Initiatives, Craig Andrew Miller, reported multiple transactions involving the acquisition of common stock through restricted stock unit vesting and subsequent tax-related dispositions, alongside ongoing indirect ownership.

Summary

• Craig Andrew Miller, SVP, Strategic Initiatives at Viasat Inc. (VSAT), reported several stock transactions.
• On June 7, 2025, Miller acquired 4,418 shares of common stock at a $0 price through the vesting of restricted stock units.
• Concurrently on June 7, 2025, 1,581 shares were disposed of at $9.21 per share to satisfy tax withholding obligations related to the vesting.
• Also on June 7, 2025, Miller acquired an additional 7,353 shares of common stock at a $0 price from another restricted stock unit vesting event.
• An additional 2,631 shares were disposed of at $9.21 per share on June 7, 2025, for tax withholding purposes.
• Following these transactions, Miller directly beneficially owns 29,399 shares of Viasat common stock.
• Indirect beneficial ownership includes 4,209 shares in a 401(k) plan and 1,592 shares held by a spouse.
• The report details the vesting of an original 17,670 RSU grant from June 7, 2023, which vests at a rate of 1/4 on the 13th month anniversary and 1/4 on each of the second, third, and fourth anniversaries of the grant date.
• A performance-based RSU award of 22,059 units, granted on June 7, 2024, had its financial performance goals for the 2025 fiscal year met on May 14, 2025, with vesting to occur in three substantially equal annual installments beginning June 7, 2025.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it indicates the achievement of performance goals leading to RSU vesting and continued executive alignment with company performance, despite routine tax-related share dispositions.

Positives

• Vesting of restricted stock units indicates the achievement of performance milestones or continued employment, reflecting positively on the executive's contribution.
• The Compensation and Human Resources Committee determined that financial performance goals for the 2025 fiscal year were met, leading to the vesting of performance-based restricted stock units.
• Ongoing participation in employee stock plans (ESPP and 401(k)) demonstrates continued alignment of executive interests with shareholder value.

Negatives

• Disposal of shares for tax withholding purposes reduces the direct beneficial ownership of the reporting person.

Future Outlook

The performance-based restricted stock units granted on June 7, 2024, are set to vest in three substantially equal annual installments beginning on June 7, 2025, contingent on continued employment.

Industry Context

This filing is a routine disclosure of insider stock transactions, common across all publicly traded companies, reflecting executive compensation and ownership changes rather than broader industry trends.

Comparison to Industry Standards

• Form 4 filings are standard regulatory disclosures for insider transactions across all public companies.
• The specific details of RSU grants, vesting schedules, and tax withholding practices are typical for executive compensation packages in the technology and aerospace/defense sectors, aligning with common industry practices for incentivizing and retaining key personnel.

Stakeholder Impact

• Shareholders: Increased transparency regarding executive stock ownership and compensation practices. The vesting of performance-based units suggests the company met certain financial goals, which could be viewed positively.
• Employees: The report highlights the company's compensation structure, including RSU grants and employee stock purchase plans, which may be relevant to other employees.

Next Steps

• Future vesting of the remaining portions of the 17,670 RSU grant on the second, third, and fourth anniversaries of the June 7, 2023, grant date.
• Future vesting of the 22,059 performance-based restricted stock units in three substantially equal annual installments beginning June 7, 2025.

Key Dates

Keywords

Viasat, VSAT, SEC Form 4, Insider Trading, Stock Transaction, Restricted Stock Units, RSU Vesting, Employee Stock Purchase Plan, 401(k), Executive Compensation, Craig Andrew Miller