Form 4: Align Technology Director Kevin T. Conroy Reports Stock Transactions
SEC Form 4 Filing
Director Kevin T. Conroy of Align Technology Inc. reports the vesting and exercising of restricted stock units, along with the grant of additional units.
Summary
- On May 22, 2024, Kevin T. Conroy, a director of Align Technology Inc., reported transactions involving restricted stock units (RSUs).
- 660 RSUs granted on December 5, 2023, vested and were exercised, resulting in the delivery of 660 shares of common stock to Conroy.
- Additionally, 1,148 RSUs were granted on May 22, 2024, which will vest on the earlier of May 22, 2025, or the date of the next annual meeting of stockholders, contingent upon continued service.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting stock transactions. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The 1,148 RSUs granted on May 22, 2024, will vest on the earlier of May 22, 2025, or the date of the next annual meeting of stockholders, assuming continued service of the Reporting Person.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common for publicly traded companies. It provides transparency into the actions of key personnel and their holdings in the company.
Stakeholder Impact
- The vesting and exercising of RSUs by a director could have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| December 5, 2023 | Date of grant for 660 restricted stock units that vested on May 22, 2024 |
| May 22, 2024 | Date of transaction: vesting and exercising of 660 RSUs and grant of 1,148 new RSUs |
| May 22, 2025 | Potential vesting date for the 1,148 RSUs granted on May 22, 2024 |
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