Form 4: Albany International Corp. Director John Scannell Reports Changes in Beneficial Ownership

Director John Scannell reports acquisition of deferred restricted stock units and shares through dividend reinvestment in Albany International Corp.

Summary

• On May 10, 2024, John Scannell, a director of Albany International Corp., reported changes in beneficial ownership.
• Scannell acquired 1,519 Deferred Restricted Stock Units (DSUs) under the company's Non-Employee Director Deferred Compensation Plan.
• Each DSU entitles the holder to one share of Class A Common Stock upon vesting.
• Scannell also acquired 540 shares of Class A Common Stock through a dividend reinvestment plan.
• As of the report, Scannell beneficially owns 19,527 shares of Class A Common Stock directly.
• The 1,519 DSUs will vest on the earlier of January 1, 2034, or upon certain events such as death, disability, separation from service, or a change of ownership control.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects standard compensation practices and insider alignment with company performance through stock ownership. There are no indications of negative events or concerns.

Positives

• The acquisition of DSUs and shares through dividend reinvestment indicates continued alignment of the director's interests with the company's long-term performance.

Future Outlook

The director will receive cash dividends on the DSUs, paid by the Issuer in such amount and at such time as periodically declared by its Board of Directors.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders, such as directors and officers, in the company's securities. This allows investors to monitor insider activity, which can provide insights into management's perspective on the company's performance and future prospects.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding director compensation and stock ownership.
• The dividend reinvestment plan benefits shareholders by allowing them to increase their stake in the company.

Key Dates