Form 4: Allegro Microsystems CFO Reports Stock Transactions
SEC Form 4 Filing
Derek D'Antilio, SVP, CFO & Treasurer of Allegro Microsystems, reports acquisition and disposal of company stock related to vesting of performance-based restricted stock units and tax obligations.
Summary
- On May 15, 2024, Derek D'Antilio, the SVP, CFO & Treasurer of Allegro Microsystems, acquired 13,251 shares of common stock at $0 price due to the vesting of performance-vesting restricted stock units (PSUs).
- These PSUs were granted on May 16, 2022, and May 15, 2023, and vest over a three-year period contingent upon the company's performance.
- The Compensation Committee determined that the performance goals for the period ending March 29, 2024, were met.
- Following certification, the certified portion of the awards remain subject to the time-based vesting conditions, and a portion of the awards vested on May 16, 2024, and the remaining amounts are scheduled to vest in part on May 16, 2025 and May 16, 2026, as applicable.
- On May 16, 2024, D'Antilio disposed of 12,494 shares at $29.75 to cover taxes due upon the vesting of PSUs and restricted stock units.
- Following these transactions, D'Antilio beneficially owns 132,931 shares of Allegro Microsystems common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. The vesting of PSUs suggests the company met its performance goals, which is a slightly positive indicator.
Positives
- The vesting of PSUs indicates that Allegro Microsystems achieved its performance objectives for the specified period.
Future Outlook
The remaining amounts of the PSUs are scheduled to vest in part on May 16, 2025 and May 16, 2026, as applicable.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and alignment with company performance.
Stakeholder Impact
- The vesting of PSUs aligns management's interests with those of shareholders.
- The disclosure provides transparency to investors regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| May 16, 2022 | Reporting Person was granted awards of performance-vesting restricted stock units (PSUs). |
| May 15, 2023 | Reporting Person was granted awards of performance-vesting restricted stock units (PSUs). |
| March 29, 2024 | End of the performance period for the PSUs granted in 2022 and 2023. |
| May 15, 2024 | Reporting Person acquired 13,251 shares of common stock due to PSU vesting. |
| May 16, 2024 | Reporting Person disposed of 12,494 shares to cover tax obligations; portion of PSUs vested. |
| May 17, 2024 | Date of signature for the Form 4 filing. |
| May 16, 2025 | Scheduled vesting date for a portion of the remaining PSUs. |
| May 16, 2026 | Scheduled vesting date for a portion of the remaining PSUs. |
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