Form 4: Albany International Corp. Executive Suzanne K. Purdum Reports Stock Transactions

Suzanne K. Purdum, CHRO of Albany International Corp., reports the vesting of restricted stock units and subsequent stock transactions.

Summary

• On March 1, 2025, Suzanne K. Purdum, the Chief Human Resources Officer (CHRO) of Albany International Corp., reported transactions involving Class A Common Stock.
• These transactions included the vesting of restricted stock units (RSUs) granted on November 1, 2024, resulting in the distribution of 170 and 1,439 shares.
• Additionally, 477 shares were withheld to cover tax liabilities associated with the vesting of these RSUs at a price of $76.57 per share.
• Following these transactions, Purdum directly owns 1,132 shares of Class A Common Stock.
• Purdum also holds 2,660 Restricted Stock Units granted on February 21, 2025, which vest in three tranches: 887 on March 1, 2026, 887 on March 1, 2027, and 886 on March 1, 2028.
• Further, Purdum holds 339 and 2,876 Restricted Stock Units granted on November 1, 2024, vesting on various dates in 2025, 2026 and 2027.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions. It doesn't convey strong positive or negative sentiment.

Positives

• The vesting of restricted stock units indicates a form of compensation and alignment of the executive's interests with the company's performance.

Negatives

• The withholding of shares to cover tax liabilities reduces the number of shares the executive ultimately receives.

Risks

• Fluctuations in the stock price could impact the value of the restricted stock units and the executive's holdings.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are regularly reported to the SEC. These transactions can provide insights into management's perspective on the company's performance and future prospects.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units as a way to align executive interests with shareholder value.
• Vesting schedules for RSUs typically range from one to five years, with the reported vesting schedule being within the typical range.
• Tax withholding practices related to RSU vesting are standard across publicly traded companies.

Stakeholder Impact

• The vesting of RSUs and subsequent transactions may have a minor impact on shareholders due to the potential dilution of shares.
• Employees may view the executive's stock ownership as a positive sign of alignment with the company's success.

Key Dates