Form 4: Axcelis Technologies EVP and CFO, James Gordon Coogan, Reports Changes in Beneficial Ownership

James Gordon Coogan, EVP and CFO of Axcelis Technologies, reports the forfeiture of 1,787 shares for tax withholding related to vested performance-based restricted stock units.

Summary

• On February 28, 2025, James Gordon Coogan, the EVP and CFO of Axcelis Technologies, reported a change in beneficial ownership.
• This change involves the forfeiture of 1,787 shares of common stock for tax withholding purposes.
• The forfeiture is related to the vesting of performance-based restricted stock units (PRSUs) granted in May 2024.
• The Axcelis Technologies, Inc. Compensation Committee determined on February 13, 2025, that 150% of the 2024 PRSUs were earned.
• Half of the earned shares vested on February 28, 2025.
• The shares issued to the executive upon vesting were reduced to cover the executive's tax withholding obligation.
• Following the reported transaction, Coogan beneficially owns 15,641 shares of Axcelis Technologies common stock.
• Of these shares, 12,727 are issuable on vesting of restricted stock units granted under the 2012 Equity Incentive Plan and are subject to forfeiture.

Sentiment

Score: 5

Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate positive or negative performance for the company.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the standard practice of using equity-based compensation and withholding shares for tax obligations.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares forfeited for tax purposes.
• The transaction impacts the executive's (James Gordon Coogan) stock ownership.

Key Dates