Form 4: Axcelis Technologies CEO Russell Low Reports Stock Forfeiture for Tax Withholding
SEC Form 4 Filing
Russell Low, CEO of Axcelis Technologies, reports the forfeiture of 905 shares of common stock to cover tax obligations related to vesting restricted stock units on May 17, 2024.
Summary
- On May 17, 2024, Russell Low, the President and CEO of Axcelis Technologies, forfeited 905 shares of common stock.
- The forfeiture was to cover tax withholding obligations related to the vesting of restricted stock units granted in May 2021.
- The shares were forfeited at a price of $113.23 per share.
- Following the transaction, Low directly owns 81,953 shares of Axcelis Technologies common stock, with 50,594 shares issuable upon the vesting of restricted stock units under the 2012 Equity Incentive Plan.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate positive or negative sentiment regarding the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard practice of covering tax obligations related to equity compensation.
Key Dates
| Date | Description |
|---|---|
| May 2021 | Date of original grant of service vesting restricted stock units to the executive. |
| 05/17/2024 | Date of transaction: forfeiture of shares for tax withholding purposes and vesting of restricted stock units. |
| 05/20/2024 | Date of signature on the Form 4 filing. |
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