Form 4: ATN International SVP Mary Mabey Reports Stock Transactions Following RSU Vesting

Mary Mabey, SVP and General Counsel of ATN International, reports the vesting of performance-based and restricted stock units, along with associated tax withholding transactions.

Summary

• On March 8, 2024, Mary Mabey, SVP and General Counsel of ATN International, vested 4,128 shares of common stock from performance-based restricted stock units (PSUs).
• These PSUs vested based on the achievement of pre-established relative total shareholder return (TSR) goals compared to the Russell 2000 Index.
• The aggregate number of shares issued was 86% of the target number of PSU shares previously reported.
• Mabey also disposed of shares to cover tax obligations related to the vesting of both performance-based and restricted stock units (RSUs).
• Specifically, 2,112 shares were withheld on March 8, 595 shares on March 9, and 809 shares on March 11, all at a price of $33.06 and $32.99 respectively.
• Following these transactions, Mabey directly owns 29,575 shares of ATN International common stock.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. The vesting of PSUs based on TSR suggests positive performance, but the tax withholding is a neutral event.

Positives

• The vesting of performance-based RSUs indicates that ATN International achieved certain TSR goals relative to the Russell 2000 Index, suggesting positive performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of performance-based RSUs is tied to the company's performance relative to the Russell 2000, a common benchmark.

Comparison to Industry Standards

• Performance-based equity compensation is a common practice among publicly traded companies to align management's interests with those of shareholders.
• The use of TSR relative to an index like the Russell 2000 is a standard metric for evaluating performance.
• Companies like Verizon, T-Mobile, and other telecommunications firms also utilize similar equity compensation plans.

Stakeholder Impact

• Shareholders may view the vesting of performance-based RSUs as a positive sign, indicating that management is incentivized to improve company performance.

Key Dates