Form 4: Albany International Corp. Executive Gregory N. Harwell Reports Changes in Beneficial Ownership

Gregory N. Harwell, President-AEC of Albany International Corp., reports transactions involving Class A Common Stock and Restricted Stock Units due to departure from the company.

Summary

• On August 16, 2024, Gregory N. Harwell, President-AEC of Albany International Corp., filed a Form 4 detailing changes in beneficial ownership.
• The transactions include the distribution of 8,292 shares of Class A Common Stock pursuant to a Special Incentive Award Agreement upon his departure from the company, with a corresponding forfeiture of 8,292 shares.
• Additionally, shares were distributed due to the vesting of Restricted Stock Units granted in February 2022 (789 shares), February 2023 (1,353 shares), and February 2024 (2,174 shares).
• A total of 4,420 shares were withheld to cover tax liabilities related to these transactions.
• Harwell's direct ownership after the reported transactions is 20,876 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions related to an executive's departure. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive compensation and stock ownership changes are common occurrences in publicly traded companies, particularly in connection with executive departures. This filing provides transparency into these transactions at Albany International Corp.

Management Changes

Stakeholder Impact

• Shareholders are informed of changes in executive stock ownership.
• Employees may be affected by the departure of a key executive.

Key Dates