Form 4: Aspen Aerogels CFO Ricardo Rodriguez Forfeits Unearned Performance-Based Restricted Shares
SEC Form 4 Filing
Ricardo Rodriguez, CFO & Treasurer of Aspen Aerogels, forfeited 53,590 unearned performance-based restricted shares on March 5, 2024, and now beneficially owns 21,747 shares of Common Stock and RSUs.
Summary
- On March 5, 2024, Ricardo C. Rodriguez, CFO & Treasurer of Aspen Aerogels, forfeited 53,590 unearned performance-based restricted shares.
- These shares were initially granted on June 2, 2022, but were cancelled due to unearned performance.
- Following this transaction, Rodriguez beneficially owns 21,747 shares, which includes 3,483 shares of Common Stock and 18,264 RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the forfeiture of shares is a neutral event from a sentiment perspective. It doesn't inherently indicate positive or negative sentiment, but rather reflects a change in ownership.
Negatives
- The forfeiture of 53,590 performance-based restricted shares suggests that performance targets were not met.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in trading activities by company insiders. This filing indicates a change in Ricardo Rodriguez's holdings in Aspen Aerogels.
Stakeholder Impact
- The forfeiture of shares may have a minor impact on shareholder perception, depending on the reasons for not meeting the performance targets.
Key Dates
| Date | Description |
|---|---|
| June 2, 2022 | Date the unearned performance-based restricted shares were granted. |
| March 5, 2024 | Date of the transaction where 53,590 unearned performance-based restricted shares were cancelled. |
| March 7, 2024 | Date of signature for the Form 4 filing. |
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