Form 4: Albany International Corp. Director Acquires Deferred Restricted Stock Units

Christina M. Alvord, a director of Albany International Corp., reports the acquisition of deferred restricted stock units (DSUs) and ownership of Class A Common Stock.

Summary

• On May 10, 2024, Christina M. Alvord, a director of Albany International Corp., acquired 1,519 Deferred Restricted Stock Units (DSUs).
• Each DSU entitles the holder to receive one share of Class A Common Stock upon vesting.
• The DSUs were granted pursuant to the Albany International Corp. Non-Employee Director Compensation Plan under the Albany International Corp. 2023 Long Term Incentive Plan.
• The DSUs will vest on the earlier of January 1, 2034, or upon the reporting person's death, disability, or a change of ownership control of the Company.
• If the reporting person separates from service prior to the vesting date, the DSUs will vest as to 20% over a period of five years on each anniversary of the separation date.
• Alvord also directly owns 2,792 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports a transaction related to director compensation, which is a routine corporate activity. There are no explicit positive or negative implications for the company's performance.

Positives

• The grant of DSUs aligns the director's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment to Albany International Corp.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's financial performance or future prospects, but the vesting schedule of the DSUs suggests a long-term commitment from the director.

Industry Context

Director compensation in the form of stock and restricted stock units is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation for directors is a standard practice across publicly traded companies.
• Companies like DuPont, 3M, and Honeywell, which operate in similar industrial sectors, also utilize stock options and restricted stock units as part of their director compensation packages.
• The vesting schedules and terms of these grants are generally aligned with industry norms to incentivize long-term commitment and performance.

Stakeholder Impact

• The acquisition of DSUs by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates