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

CFO Robert Starr of Albany International Corp. reports the vesting of restricted stock units and subsequent tax withholding.

Summary

• Robert D. Starr, CFO & Treasurer of Albany International Corp., reported changes in beneficial ownership of company stock on March 1, 2024.
• The transactions involved the vesting of 2,720 Class A Common Stock shares from restricted stock units.
• 1,110 shares were withheld to cover tax liabilities at a price of $93.85 per share.
• Following these transactions, Starr directly owns 1,610 shares of Class A Common Stock and 5,438 Restricted Stock Units.
• He also holds 4,812 Restricted Stock Units granted on February 23, 2024, which will vest in installments over the next three years.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't contain overtly positive or negative information, hence a neutral sentiment score.

Positives

• The vesting of restricted stock units indicates a form of compensation and alignment of the executive's interests with those of the shareholders.

Future Outlook

The document outlines the vesting schedule for restricted stock units granted to the CFO, indicating future stock ownership changes.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency regarding the stock ownership of key executives.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies to incentivize executives.
• The vesting schedules and terms of the restricted stock units are likely aligned with industry standards for executive compensation packages.
• Companies like Parker Hannifin, Honeywell, and ITT Inc. also utilize stock-based compensation for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect changes in insider ownership.
• Employees may be affected by similar stock-based compensation plans.

Key Dates