Form 4: Axcelis CEO Low's Tax-Related Share Forfeiture

Axcelis Technologies CEO Russell Low reported a forfeiture of 5,227 shares for tax withholding purposes related to the vesting of performance-based restricted stock units.

Summary

• Russell Low, President and CEO of Axcelis Technologies Inc. (ACLS), reported a forfeiture of 5,227 shares of common stock.
• This forfeiture occurred on March 2, 2026, and was for tax withholding purposes related to the vesting of performance-based restricted stock units (2024 PRSUs).
• The 2024 PRSUs were granted in May 2024, and the Compensation Committee determined on February 13, 2025, that 150% of these units were earned.
• Half of the earned shares vested on February 28, 2025, with the remaining half vesting on February 28, 2026.
• The value for the tax withholding was based on the closing price of $86.58 per share on March 2, 2026.
• Following this transaction, Russell Low beneficially owns 130,928 shares of Axcelis Technologies common stock.
• Of the shares held, 79,638 are issuable upon vesting of restricted stock units granted under the 2012 Equity Incentive Plan and remain subject to forfeiture.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine, non-discretionary transaction related to executive compensation and tax obligations, which typically has a neutral impact on market sentiment.

Positives

• The Compensation Committee determined that 150% of the 2024 performance-based restricted stock units were earned, indicating strong performance against established targets.
• The vesting of performance-based restricted stock units represents the successful achievement of executive compensation goals.

Negatives

• A forfeiture of 5,227 shares occurred, which reduced the executive's direct holdings, although this was a non-discretionary event for tax withholding.

Risks

• 79,638 shares beneficially owned by Russell Low are still subject to forfeiture, indicating a portion of his equity holdings are not yet fully vested.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that tax-related share forfeitures upon the vesting of restricted stock units are a common and routine occurrence in executive compensation across various industries. This type of transaction is generally not indicative of a change in management's outlook or a discretionary sale.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary tax event for executive compensation, not a discretionary sale of shares.

Key Dates

Keywords

Axcelis Technologies, ACLS, Russell Low, Form 4, insider transaction, share forfeiture, restricted stock units, executive compensation, tax withholding