Form 4: Axcelis Technologies Executive Douglas A. Lawson Reports Stock Transactions
SEC Form 4 Filing
Douglas A. Lawson, EVP of Corporate Marketing & Strategy at Axcelis Technologies, reports the forfeiture of shares for tax withholding related to the vesting of performance-based restricted stock units.
Summary
- On February 28, 2024, Douglas A. Lawson, EVP of Corporate Marketing & Strategy at Axcelis Technologies, reported transactions involving common stock.
- The transactions involved the forfeiture of 958 shares and 457 shares to cover tax withholding obligations related to the vesting of performance-based restricted stock units (PRSUs).
- These PRSUs were granted in May 2022 and May 2023, with the number of shares earned determined by the Axcelis Technologies, Inc. Compensation Committee on February 16, 2023, and February 8, 2024, respectively.
- Following these transactions, Lawson directly owns 18,233 shares of Axcelis Technologies common stock.
- 11,827 of these shares are issuable on vesting of restricted stock units granted to the reporting person under the 2012 Equity Incentive Plan and are subject to forfeiture.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions related to tax obligations. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their potential impact on stock prices. This filing indicates routine tax-related stock forfeitures, which are common when equity awards vest.
Stakeholder Impact
- The stock forfeiture has a minor impact on the executive's holdings.
- The transactions are related to tax obligations and do not indicate a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 2022-05 | Grant date of performance based restricted stock units (PRSUs) to the executive. |
| 2023-02-16 | Date the Axcelis Technologies, Inc. Compensation Committee determined the number of shares earned by the executive pursuant to a resolution. |
| 2023-05 | Grant date of performance based restricted stock units (PRSUs) to the executive. |
| 2024-02-08 | Date the Axcelis Technologies, Inc. Compensation Committee determined the number of shares earned by the executive pursuant to a resolution. |
| 2024-02-28 | Date of stock forfeiture for tax withholding related to vesting of PRSUs; date of report. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.