Form 4: Axcelis Technologies EVP and CFO James G. Coogan Reports Changes in Beneficial Ownership

James G. Coogan, EVP and CFO of Axcelis Technologies, reports the acquisition and disposal of common stock and vesting of restricted stock units.

Summary

• On May 15, 2025, James G. Coogan, EVP and CFO of Axcelis Technologies, reported changes in his beneficial ownership of the company's common stock.
• He acquired 12,295 shares of common stock through the vesting of restricted stock units (RSUs) granted under the company's 2012 Equity Incentive Plan.
• Another 12,295 shares were acquired based on the achievement of 2025 performance goals, with vesting scheduled for February 28, 2027, and February 28, 2028.
• Coogan also disposed of 574 shares to cover tax withholding obligations related to the vesting of RSUs at a price of $62.67 per share.
• Following these transactions, Coogan beneficially owns 39,657 shares of Axcelis Technologies common stock, with 36,130 shares issuable upon the vesting of restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and insider transactions, suggesting a neutral to slightly positive sentiment due to the vesting of RSUs and achievement of performance goals.

Positives

• The vesting of restricted stock units indicates that the executive is meeting the requirements of the equity incentive plan.
• The acquisition of shares based on performance goals suggests that the company is achieving its targets.

Negatives

• The disposal of shares for tax withholding reduces the executive's overall holdings, although this is a common practice.

Risks

• Unearned restricted stock units will forfeit on February 28, 2026, if performance goals are not met.
• The value of the shares is subject to market fluctuations, which could impact the executive's holdings.

Future Outlook

The executive may earn shares of common stock, ranging from zero to 150% of the granted units, based on the achievement of 2025 performance goals.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock.

Comparison to Industry Standards

• Equity compensation is a common practice in the technology industry to align executive interests with shareholder value.
• Vesting schedules and performance-based grants are standard features of equity incentive plans.
• Companies like Applied Materials and Lam Research also use similar equity compensation plans for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as they reflect routine executive compensation.
• Employees may be motivated by the company's achievement of performance goals, which leads to executive RSU vesting.

Next Steps

• Continued monitoring of the executive's stock ownership and transactions.
• Assessment of the company's performance against the 2025 goals to determine the final vesting of performance-based shares.

Key Dates

Keywords

Axcelis Technologies, James G. Coogan, beneficial ownership, Form 4, restricted stock units, RSU, equity incentive plan, common stock, insider trading