Form 4: Axcelis Technologies Executive Douglas A. Lawson Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Douglas A. Lawson, EVP at Axcelis Technologies, reports acquisition of shares through restricted stock units and disposals for tax withholding related to vesting.
Summary
- On May 15, 2024, Douglas A. Lawson, EVP at Axcelis Technologies, acquired 1,365 shares of common stock related to the vesting of restricted stock units under the company's 2012 Equity Incentive Plan.
- These shares are contingent upon achieving 2024 performance goals, with 100% vesting on February 28, 2025, and unearned units forfeited on the same date.
- Lawson also disposed of 861 shares on May 15, 2024, at a price of $112.94 for tax withholding purposes related to the vesting of restricted stock units granted in May 2023.
- An additional 256 shares were disposed of on May 15, 2024, at $112.94 for tax withholding related to units granted in May 2020.
- On May 16, 2024, Lawson disposed of 536 shares at $113.57 for tax withholding related to units granted in May 2022.
- Following these transactions, Lawson directly owns 17,945 shares of Axcelis Technologies common stock, with 8,685 shares issuable upon vesting of restricted stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to executive compensation and tax obligations.
Positives
- The acquisition of shares through restricted stock units indicates a potential alignment of the executive's interests with the company's performance.
Future Outlook
The executive may earn shares of common stock, ranging from zero to 150% of the granted units, based on the achievement of 2024 performance goals.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not indicate a significant change in company strategy or performance.
Key Dates
| Date | Description |
|---|---|
| 05/15/2024 | Acquisition of 1,365 shares through restricted stock units and disposal of 861 and 256 shares for tax withholding. |
| 05/16/2024 | Disposal of 536 shares for tax withholding. |
| 05/17/2024 | Date of signature by Attorney-in-Fact. |
| 02/28/2025 | Vesting date for 100% of earned shares and forfeiture date for unearned restricted stock units. |
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