Form 4: Axcelis Technologies CEO Russell Low Reports Stock Forfeiture for Tax Withholding

Russell Low, CEO of Axcelis Technologies, reports the forfeiture of shares to cover tax obligations related to the vesting of performance-based restricted stock units.

Summary

• On February 28, 2025, Russell Low, the President and CEO of Axcelis Technologies, forfeited 3,923 shares of common stock at a price of $54.79 per share for tax withholding purposes related to the vesting of 2023 PRSUs.
• Following this transaction, Low directly owns 84,765 shares of Axcelis Technologies common stock.
• Additionally, Low forfeited 5,212 shares of common stock at a price of $54.79 per share for tax withholding purposes related to the vesting of 2024 PRSUs.
• After this transaction, Low directly owns 79,553 shares of Axcelis Technologies common stock.
• These forfeitures were related to the vesting of performance-based restricted stock units (PRSUs) granted in May 2023 and May 2024.
• The Compensation Committee determined that the units vesting on the 2023 PRSUs were earned in February 2024, and half of the earned shares from the 2024 PRSUs vested on February 28, 2025.
• The shares issued to Low upon vesting were reduced by a number of shares equal in value to his tax withholding obligation.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The forfeiture of shares by the CEO to cover tax obligations has a neutral impact on shareholders, as it is a standard part of executive compensation.

Key Dates