4/A: Analog Devices Executive Corrects Stock Ownership Reporting After RSU Vesting
SEC Filing (Form 4/A)
Gregory M. Bryant, EVP & President of Global Business Units at Analog Devices, files an amended Form 4 to correct the number of derivative securities beneficially owned after recent vesting of Restricted Stock Units (RSUs).
Summary
- Gregory M. Bryant, an executive at Analog Devices, filed an amended Form 4 (Form 4/A) with the SEC to correct a previous filing regarding his beneficial ownership of derivative securities.
- The amendment addresses inaccuracies in the number of Restricted Stock Units (RSUs) reported after vesting.
- The original Form 4, filed on March 19, 2024, incorrectly stated the number of derivative securities owned after the vesting of RSUs granted on March 15, 2022, and April 4, 2022.
- The corrected filing shows that Bryant beneficially owned 17,414 derivative securities after the vesting of the March 15, 2022 RSUs, instead of the previously reported 26,120.
- Similarly, the corrected filing indicates that Bryant beneficially owned 8,349 derivative securities after the vesting of the April 4, 2022 RSUs, instead of the previously reported 12,523.
- The RSUs vest in equal installments on the first, second, third, and fourth anniversaries of March 15, 2022, and each vested RSU automatically converts into one share of Analog Devices common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a correction of a previous error, which doesn't necessarily indicate a positive or negative outlook for the company, but highlights the importance of accurate reporting.
Negatives
- The need for an amended filing suggests an initial error in reporting, which could raise concerns about internal controls or attention to detail.
Industry Context
Form 4 filings are a routine part of executive compensation and insider trading regulations, providing transparency into the transactions of company insiders.
Stakeholder Impact
- Accurate reporting of insider transactions is important for maintaining investor confidence and ensuring fair markets.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | Date of RSU grant to the Reporting Person, vesting in equal installments on the first, second, third and fourth anniversaries of the Grant Date. |
| 04/04/2022 | Date of RSU grant to the Reporting Person, vesting in equal installments on the first, second, third and fourth anniversaries of March 15, 2022. |
| 03/15/2024 | Date of Earliest Transaction |
| 03/19/2024 | Date of Original Filed Form 4 which contained errors. |
| 03/20/2024 | Date of Amended Filing (Form 4/A) |
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