Form 4: ATI Executive Granted Performance Stock Units

ATI Inc.'s SVP, General Counsel and CCO, Vaishali S. Bhatia, was granted 6,837 Performance Stock Units under the company's 2022 Incentive Plan.

Summary

• Vaishali S. Bhatia, SVP, General Counsel and CCO of ATI Inc., was granted 6,837 Performance Stock Units (PSUs) on December 5, 2025.
• Each PSU represents a contingent right to receive one share of ATI Common Stock.
• Additional shares, up to a maximum of three shares per PSU, may be received if the Issuer's Common Stock achieves specified average market prices above the target.
• The PSUs vest if the company's common stock achieves a specified target market price (based on a 10-trading day average) on the NYSE for at least 20 consecutive trading days prior to December 31, 2029.
• Vested shares, if any, are generally payable in two equal installments in early 2030 and 2031.
• The award was made under ATI Inc.'s 2022 Incentive Plan.

Sentiment

Score: 6

Explanation: The filing reports a standard executive equity grant designed to align management's interests with long-term shareholder value through performance-based incentives.

Positives

• The grant of Performance Stock Units aligns the interests of a key executive (SVP, General Counsel and CCO) with long-term shareholder value creation.
• The performance-based nature of the PSUs incentivizes the achievement of specific stock price targets, potentially driving future stock appreciation.
• The award is part of an established incentive plan (2022 Incentive Plan), indicating a structured approach to executive compensation.

Negatives

• The value of the PSUs is contingent on the company's stock performance, meaning the executive may not receive the full potential benefit if market price targets are not met.

Risks

• The actual number of shares received from the PSUs is contingent on ATI Inc.'s common stock achieving specified target market prices by December 31, 2029.
• There is a risk that the stock price targets may not be met, resulting in fewer or no shares being issued from the PSUs.

Future Outlook

The Performance Stock Units are designed to incentivize future stock price performance, with vesting contingent on achieving specified market price targets by December 31, 2029, and payouts scheduled for early 2030 and 2031.

Industry Context

The granting of performance-based equity awards like Performance Stock Units is a common practice in executive compensation across various industries, particularly in publicly traded companies, to align executive incentives with long-term shareholder value.

Comparison to Industry Standards

• The use of Performance Stock Units (PSUs) as a long-term incentive is a standard practice in executive compensation packages for publicly traded companies, comparable to practices seen at peers in the materials or aerospace and defense sectors.
• Companies like Allegheny Technologies Incorporated (ATI's former name) and its competitors often utilize such equity awards to motivate executives to achieve specific financial or stock performance goals.
• The structure, with vesting tied to market price targets and multi-year payout schedules, is consistent with best practices for aligning executive interests with shareholder returns over a defined period.

Corporate Governance

Stakeholder Impact

• Shareholders: Potential positive impact through incentivized executive performance leading to increased stock value.
• Management: The executive receives a long-term incentive tied to company performance.

Next Steps

• ATI Inc.'s common stock performance will be monitored against specified target market prices to determine PSU vesting.
• Vested shares, if any, will be paid out in early 2030 and 2031.

Key Dates

Keywords

ATI, Form 4, Performance Stock Units, Executive Compensation, Equity Grant, Insider Transaction