Netlist (NASDAQ: NLST) awards director 100,000 RSUs vesting over four years

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Cho Jun reported acquisition or exercise transactions in this Form 4 filing.

NETLIST INC director Jun Cho received a grant of 100,000 restricted stock units tied to the company’s common stock. The RSUs vest over four years, with one-quarter vesting on each anniversary of June 9, 2026, and shares delivered upon vesting. Following this award, Cho holds 300,000 shares including unvested RSUs, reflecting routine equity-based compensation rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cho Jun

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	100,000	$0.00	--

Holdings After Transaction: Common Stock — 300,000 shares (Direct, null)

Footnotes (1)

The shares subject to the restricted stock units (the "RSUs") vest over a period of four years, with 1/4 of such shares vesting on each anniversary of June 9, 2026. The shares will be delivered to the reporting person upon vesting of the RSUs. Each RSU represents a contingent right to receive one share of common stock. The amount reported includes shares subject to unvested restricted stock units.

Key Figures

RSU grant size: 100,000 shares Post-grant holdings: 300,000 shares Grant price per RSU: $0.0000 per share +2 more

5 metrics

RSU grant size 100,000 shares Restricted stock units granted on June 5, 2026

Post-grant holdings 300,000 shares Total shares held after transaction, including unvested RSUs

Grant price per RSU $0.0000 per share Reported transaction price for RSU award

Vesting period 4 years RSUs vest over four years from June 9, 2026

Annual vesting fraction 1/4 each year One-quarter of RSUs vest on each anniversary of June 9, 2026

Key Terms

restricted stock units, vest, contingent right, unvested restricted stock units

4 terms

restricted stock units financial

"The shares subject to the restricted stock units (the "RSUs") vest over a period of four years"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vest financial

"1/4 of such shares vesting on each anniversary of June 9, 2026"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

contingent right financial

"Each RSU represents a contingent right to receive one share of common stock"

unvested restricted stock units financial

"The amount reported includes shares subject to unvested restricted stock units"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 4 Insider Transactions: What Each Field Means →

06/09/2026 - 09:31 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cho Jun

(Last)

(First)

(Middle)

111 ACADEMY, SUITE 100

(Street)

IRVINE

CALIFORNIA

92617

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NETLIST INC [ NLST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/05/2026		A		100,000⁽¹⁾	A	$0.00	300,000⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares subject to the restricted stock units (the "RSUs") vest over a period of four years, with 1/4 of such shares vesting on each anniversary of June 9, 2026. The shares will be delivered to the reporting person upon vesting of the RSUs. Each RSU represents a contingent right to receive one share of common stock.

2. The amount reported includes shares subject to unvested restricted stock units.

	/s/ Gail M. Sasaki, Attorney-in-Fact	06/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did NETLIST INC (NLST) report for Jun Cho?

NETLIST INC reported that director Jun Cho received 100,000 restricted stock units as an equity award. These RSUs represent a contingent right to receive common shares, delivered only as they vest under the disclosed schedule.

How do Jun Cho’s new RSUs at NETLIST INC (NLST) vest over time?

The 100,000 restricted stock units granted to Jun Cho vest over four years. One-quarter of the RSUs vest on each anniversary of June 9, 2026, with common shares delivered to him as the RSUs vest according to this schedule.

How many NETLIST INC (NLST) shares does Jun Cho hold after this Form 4?

After the RSU grant, Jun Cho is reported to hold 300,000 NETLIST INC shares. This reported amount includes shares subject to unvested restricted stock units, combining both currently vested and unvested equity interests.

Was cash paid for Jun Cho’s NETLIST INC (NLST) restricted stock grant?

No cash price per share is associated with this restricted stock unit grant, which is reported at a price of 0.0000 per share. This indicates a compensation award rather than an open-market purchase of NETLIST INC common stock.

What does each NETLIST INC (NLST) RSU granted to Jun Cho represent?

Each restricted stock unit granted to Jun Cho represents a contingent right to receive one share of NETLIST INC common stock. The underlying shares are only delivered as the RSUs vest according to the four-year vesting schedule beginning June 9, 2026.