Form 4: AdvanSix SVP Michael Preston Reports Changes in Beneficial Ownership

Michael Preston, SVP & Chief Financial Officer of AdvanSix Inc., reports acquisition and disposal of common stock due to vesting of performance stock units and tax withholding.

Summary

• On February 28, 2024, Michael Preston, SVP & Chief Financial Officer of AdvanSix Inc., reported changes in beneficial ownership of the company's common stock.
• He acquired 28,323 shares of common stock upon the vesting of performance stock units (PSUs) granted on February 24, 2021.
• Additionally, he acquired 14,620 restricted stock units which are scheduled to vest in three equal annual installments on the first three anniversaries of the grant date.
• 14,488 shares were withheld to satisfy tax withholding obligations related to the vested PSUs at a price of $27.36 per share.
• Following these transactions, Preston directly owns 165,410 shares of AdvanSix Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation. The vesting of PSUs is a slightly positive sign, but the tax withholding is a neutral event.

Positives

• The vesting of performance stock units indicates that performance targets were likely met, which is a positive signal.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates changes in ownership by a key executive at AdvanSix.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• The vesting of PSUs may signal to shareholders that the company is meeting its performance goals.

Key Dates