Form 4: Albany International Corp. CFO Acquires Restricted Stock Units
Form 4 Filing
Robert D. Starr, CFO & Treasurer of Albany International Corp., reports the acquisition of restricted stock units.
Summary
- Robert D. Starr, CFO & Treasurer of Albany International Corp., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 5,632 Restricted Stock Units on February 21, 2025, granted under the company's 2023 Incentive Plan.
- These units entitle the holder to receive one share of Class A Common Stock upon vesting.
- The vesting schedule for these units is as follows: 1,878 units on March 1, 2026; 1,877 units on March 1, 2027; and 1,877 units on March 1, 2028.
- Mr. Starr also beneficially owns 3,610 shares of Class A Common Stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The granting of restricted stock units is a common practice and generally viewed as a positive incentive for management.
Positives
- The acquisition of restricted stock units aligns the CFO's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the CFO.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the restricted stock units.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.
Comparison to Industry Standards
- Equity compensation is a common practice among publicly traded companies to incentivize executives.
- Vesting schedules are typically structured to encourage long-term performance and retention, often over a 3-5 year period, which aligns with Albany International's vesting schedule.
- Companies like Parker Hannifin and Pentair also utilize restricted stock units as part of their executive compensation packages.
Stakeholder Impact
- Shareholders may view the granting of restricted stock units as a positive incentive for the CFO to drive long-term value.
- Employees may see this as a sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| December 5, 2023 | Date of Power of Attorney authorization for signing SEC forms. |
| March 1, 2024 | Vesting date for 2,720 Restricted Stock Units granted April 11, 2023. |
| February 21, 2025 | Transaction date for the acquisition of 5,632 Restricted Stock Units. |
| March 1, 2025 | Vesting date for 2,719 Restricted Stock Units granted April 11, 2023 and 1,604 Restricted Stock Units granted February 23, 2024. |
| March 1, 2026 | Vesting date for 2,719 Restricted Stock Units granted April 11, 2023, 1,604 Restricted Stock Units granted February 23, 2024 and 1,878 Restricted Stock Units granted February 21, 2025. |
| March 1, 2027 | Vesting date for 1,604 Restricted Stock Units granted February 23, 2024 and 1,877 Restricted Stock Units granted February 21, 2025. |
| March 1, 2028 | Vesting date for 1,877 Restricted Stock Units granted February 21, 2025. |
| February 24, 2025 | Date of the Form 4 filing. |
Keywords
Restricted Stock Units, Form 4, Beneficial Ownership, Albany International Corp, Insider Trading, CFO, Robert D. Starr, Equity Compensation
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