Form 4: Axcelis Technologies Executive Douglas A. Lawson Reports Changes in Beneficial Ownership

Douglas A. Lawson, EVP of Corporate Marketing & Strategy at Axcelis Technologies, reports a transaction involving the forfeiture of shares for tax withholding purposes related to the vesting of restricted stock units.

Summary

• On June 20, 2024, Douglas A. Lawson, EVP of Corporate Marketing & Strategy at Axcelis Technologies, reported a change in beneficial ownership.
• The transaction involved the forfeiture of 1,396 shares of common stock for tax withholding purposes.
• This forfeiture was related to the vesting of restricted stock units granted to the executive under the Company's Executive Equity Retirement Program.
• The shares issued to the executive on the vested shares were reduced by a number of shares having a value equal to the executive's tax withholding obligation with respect to the vested shares.
• The price per share for the tax withholding was $136.02.
• Following the reported transaction, Lawson beneficially owns 15,808 shares of Axcelis Technologies common stock.
• Of these shares, 4,128 are issuable on vesting of restricted stock units granted under the 2012 Equity Incentive Plan and are subject to forfeiture.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a routine transaction related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for managing equity-based compensation and tax obligations.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock units and tax withholding procedures, are standard across publicly traded companies.
• Companies like Applied Materials (AMAT) and Lam Research (LRCX), which are competitors of Axcelis Technologies, also utilize similar equity compensation plans for their executives.
• The forfeiture of shares for tax withholding is a common mechanism to cover the tax liabilities associated with the vesting of equity awards, ensuring compliance with tax regulations.

Key Dates