Form 4: Albany International Corp. CFO Robert Starr Reports Stock Transactions

Robert Starr, CFO & Treasurer of Albany International Corp., reports transactions involving Class A Common Stock and Restricted Stock Units.

Summary

• Robert Starr, the CFO & Treasurer of Albany International Corp., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On March 1, 2025, Starr acquired shares through the vesting of Restricted Stock Units (RSUs) granted on April 11, 2023, and February 23, 2024.
• A total of 2,719 shares were distributed from the April 11, 2023 grant and 1,604 shares from the February 23, 2024 grant.
• 1,760 shares were withheld to cover tax liabilities related to these transactions at a price of $76.57.
• Following these transactions, Starr directly owns 6,173 shares of Class A Common Stock.
• Starr also holds Restricted Stock Units that will vest in the future, with varying vesting schedules extending to March 1, 2028.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. The sentiment is neutral to slightly positive, as it reflects ongoing equity compensation and alignment of interests.

Positives

• The vesting of RSUs indicates that Starr is meeting the conditions of his equity compensation plan.
• Continued equity ownership aligns Starr's interests with those of the shareholders.

Future Outlook

The document outlines future vesting dates for Restricted Stock Units, indicating continued equity compensation for the reporting person.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing is typical for executives receiving equity compensation.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to align management's interests with those of shareholders.
• The vesting schedules and terms of the Restricted Stock Units are likely comparable to those offered by similar companies in the industrial sector.
• Companies like Parker-Hannifin (PH), Eaton Corporation (ETN), and Illinois Tool Works (ITW) also utilize equity compensation as part of their executive compensation packages.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as they reflect the ongoing equity compensation of a key executive.
• The vesting of RSUs incentivizes the executive to continue creating value for the company.

Key Dates