Form 4: Applied Materials CFO Sells Shares to Cover Tax Obligations

Applied Materials' CFO, Brice Hill, sold 6,841 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Brice Hill, the Senior Vice President and CFO of Applied Materials, Inc., sold 6,841 shares of common stock on December 19, 2024.
• The sale was executed at a price of $161.44 per share.
• This transaction was to cover tax withholding obligations upon the vesting of restricted stock units.
• Following the transaction, Mr. Hill directly owns 141,181 shares of Applied Materials common stock.
• This total includes 124,762 performance share units and restricted stock units that will convert to common stock upon vesting in the future.
• The vesting of these units is scheduled to occur in installments from April 2025 through December 2027.
• The performance share units have a potential vesting range of 0% to 200% of the target amount, depending on performance goals.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to insider transactions and does not indicate any positive or negative sentiment. It is a neutral event.

Future Outlook

The document outlines the future vesting schedule for restricted stock units and performance share units held by the CFO, which will convert to common stock upon vesting.

Industry Context

This is a routine filing related to insider transactions and is common for executives who receive stock-based compensation. It does not indicate any specific trend in the semiconductor industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, including competitors such as Intel (INTC), Taiwan Semiconductor Manufacturing Company (TSM), and ASML Holding (ASML).
• These filings are required by the SEC to ensure transparency in insider trading activities.
• The vesting schedules and performance-based equity awards are also common compensation practices in the technology sector.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The vesting schedule of the remaining stock units is subject to continued employment and performance goals, which aligns with the company's long-term interests.

Key Dates

Keywords

Applied Materials, AMAT, insider trading, Form 4, stock sale, CFO, Brice Hill, restricted stock units, performance share units, tax obligations