Form 4: Albany International Corp. Executive John J. Tedone Reports Changes in Beneficial Ownership
SEC Form 4
John J. Tedone, VP Controller & CAO of Albany International Corp., reports the vesting and cash settlement of Phantom Stock Units.
Summary
- On March 1, 2024, John J. Tedone, VP Controller & CAO of Albany International Corp., reported changes in beneficial ownership.
- The transactions involved the vesting and cash settlement of 546 Phantom Stock Units, resulting in the deemed acquisition and disposition of shares of Class A Common Stock.
- The price per share for the disposition was $89.74.
- Following the reported transactions, Tedone directly owns 546 shares of Class A Common Stock and 1,091 Phantom Stock Units.
- Tedone also granted a power of attorney to Joseph M. Gaug, Sara Stankus, and Cynthia SantaBarbara to sign SEC forms on his behalf.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock ownership, with no particularly positive or negative implications.
Future Outlook
Future vesting dates for Phantom Stock Units are set for March 1, 2025, and March 1, 2026.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| November 30, 2023 | Date of Power of Attorney authorization |
| February 22, 2024 | Date Phantom Stock Units were granted |
| March 01, 2024 | Date of transaction (vesting and cash settlement of Phantom Stock Units) |
| March 01, 2024 | Settlement date for 546 Phantom Stock Units |
| March 01, 2025 | Settlement date for 546 Phantom Stock Units |
| March 01, 2026 | Settlement date for 545 Phantom Stock Units |
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