Form 4: ATI Inc. Executive Timothy J. Harris Reports Stock Transactions
SEC Form 4 Filing
Senior VP and CDIO of ATI Inc., Timothy J. Harris, reports acquisition and disposal of company stock and restricted stock units.
Summary
- Timothy J. Harris, Senior VP and CDIO of ATI Inc., filed a Form 4 detailing changes in beneficial ownership of ATI stock.
- On January 3, 2025, Harris acquired 5,560 shares of common stock and disposed of 2,692 shares to cover taxes on restricted stock units vesting from 2023 and 2024 awards at a price of $55.81.
- On January 6, 2025, Harris disposed of 3,280 shares to cover taxes on restricted stock units awarded in 2022 at a price of $56.63.
- Also on January 6, 2025, Harris acquired 67,402 shares from the settlement of performance-vested restricted stock units (PSUs) granted in 2022 and disposed of 29,516 shares to cover taxes on these PSUs at a price of $56.63.
- Following these transactions, Harris directly owns 140,480 shares of ATI common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. The vesting of PSUs suggests the company met certain performance targets, which is mildly positive.
Positives
- The vesting of performance-vested restricted stock units (PSUs) indicates that ATI Inc. met certain performance criteria related to total shareholder return relative to a peer group.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting of restricted stock units and performance stock units is a common form of executive compensation, aligning management's interests with those of shareholders.
- Tax withholding on vesting equity awards is a typical transaction.
Stakeholder Impact
- The vesting of PSUs and RSUs could be viewed positively by shareholders as it indicates the company achieved certain performance goals.
- Employees holding RSUs and PSUs benefit from the vesting of these awards.
Key Dates
| Date | Description |
|---|---|
| 01/01/2022 | Start date for the performance period of the 2022-2024 PSUs. |
| 12/31/2024 | End date for the performance period of the 2022-2024 PSUs. |
| 01/03/2025 | Date of common stock acquisition and disposal of shares for tax withholding. |
| 01/06/2025 | Date of PSU settlement and disposal of shares for tax withholding. |
| 01/07/2025 | Date of Form 4 filing. |
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