Form 4: Albany International Corp. Executive Reports Stock Unit Grant

John J. Tedone, VP Controller & CAO of Albany International Corp., reports the grant of restricted stock units and vesting of phantom stock units.

Summary

• On February 21, 2025, John J. Tedone, VP Controller & CAO of Albany International Corp., reported the acquisition of 839 Restricted Stock Units (RSUs).
• These RSUs were granted pursuant to the Albany International Corp. 2023 Plan.
• Each RSU entitles the holder to receive one share of Class A Common Stock at the time of vesting.
• 280 RSUs will vest on March 1, 2026; 280 RSUs will vest on March 1, 2027; and 279 RSUs will vest on March 1, 2028.
• The reporting person also owns 1,091 Phantom Stock Units, which were granted on February 22, 2024.
• 546 Phantom Stock Units will be settled and payable on or about March 1, 2024; 546 on or about March 1, 2025; 545 on or about March 1, 2026.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine executive compensation disclosure.

Positives

• The grant of Restricted Stock Units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term performance and retention.

Future Outlook

The executive's holdings will increase as the Restricted Stock Units vest over the next three years.

Industry Context

Stock-based compensation is a common practice in publicly traded companies to incentivize executives and align their interests with shareholders.

Stakeholder Impact

• The stock grants incentivize management to improve company performance, which benefits shareholders.
• The grants represent a cost to the company, which could slightly impact profitability.

Key Dates

Keywords

Restricted Stock Units, Phantom Stock Units, Form 4, Albany International Corp, Executive Compensation, Stock Options, Insider Trading