Form 4: Amkor Technology Insider James J. Kim Reports Transactions Following Retirement

James J. Kim, a director and member of a 10% owner group of Amkor Technology, Inc., reported transactions related to the vesting and subsequent tax withholding of restricted stock units (RSUs) following his retirement.

Summary

• James J. Kim, a director and member of a 10% owner group at Amkor Technology, Inc. (AMKR), filed a Form 4 detailing changes in beneficial ownership.
• The transactions occurred on October 31, 2024, and involve the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
• Kim acquired shares through the vesting of RSUs and simultaneously disposed of shares to satisfy tax withholding requirements at a price of $25.45 per share.
• These RSUs were granted on February 11, 2021, February 24, 2022, February 16, 2023, and February 20, 2024, under Amkor's equity incentive plans.
• The vesting of these RSUs was pro rata in connection with Kim's retirement, resulting in the forfeiture of the remaining unvested RSUs from the mentioned grant dates.
• After the reported transactions, Kim directly owns 149,628 shares of common stock.
• Kim also indirectly owns shares through his spouse (95,000 shares), as trustee of grantor retained annuity trusts (1,338,097 shares), as trustee of family trusts (7,828,682 shares), and as trustee of a trust that controls a limited liability company (164,678 shares).
• Kim disclaims beneficial ownership of these indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing insider transactions. It doesn't contain overtly positive or negative information, but the retirement aspect could be interpreted as slightly neutral to positive, hence the score of 6.

Industry Context

This filing is a routine disclosure related to insider transactions and is common for corporate executives and directors, especially following events like retirement. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, as mandated by the SEC.
• The reporting of RSU vesting and tax withholding is a common occurrence among executives in publicly traded companies.
• Similar filings can be observed for executives at comparable semiconductor companies like Texas Instruments (TXN) and Intel (INTC) following similar events such as vesting schedules or retirement.

Management Changes

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they primarily reflect internal compensation adjustments and tax obligations.
• Employees may be indirectly affected by the management change due to Kim's retirement.

Key Dates