Form 4: Axcelis Technologies Executive Greg Redinbo Reports Changes in Beneficial Ownership

EVP of Marketing and Applications at Axcelis Technologies, Greg Redinbo, reports acquisition and disposal of common stock related to vesting of restricted stock units and tax withholding obligations.

Summary

• On May 15, 2024, Greg Redinbo, EVP of Marketing and Applications at Axcelis Technologies, acquired 2,849 shares of common stock upon vesting of restricted stock units under the company's 2012 Equity Incentive Plan.
• These restricted stock units will vest as to 25% of the shares granted on each of May 15, 2025, May 15, 2026, May 15, 2027, and May 15, 2028, assuming continued employment.
• Redinbo also acquired 2,849 shares of common stock based on the achievement of 2024 performance goals, with 50% vesting on February 28, 2025, and 50% on February 28, 2026.
• On May 15, 2024, 177 shares were forfeited for tax withholding purposes related to the vesting of restricted stock units granted in May 2023, at a price of $112.94 per share.
• On May 16, 2024, 190 shares were forfeited for tax withholding purposes related to the vesting of restricted stock units granted in May 2022, at a price of $113.57 per share.
• Following these transactions, Redinbo directly owns 22,691 shares of Axcelis Technologies common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and alignment of interests with shareholders. The vesting of stock options is a positive sign.

Positives

• The vesting of restricted stock units indicates confidence in the company's future performance and aligns executive interests with shareholder value.

Future Outlook

The document outlines future vesting dates for restricted stock units, contingent on continued employment and achievement of performance goals.

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 aligning executive incentives with company performance.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded technology companies like Axcelis Technologies to attract, retain, and incentivize key executives.
• Companies such as Applied Materials (AMAT) and Lam Research (LRCX) also utilize restricted stock units and performance-based equity awards as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these awards are typically designed to align executive interests with long-term shareholder value creation, similar to the structure outlined in this filing.

Stakeholder Impact

• Shareholders may view the vesting of restricted stock units as a positive sign, indicating management's confidence in the company's future performance.
• Employees may be motivated by the company's equity incentive plan, which aligns their interests with the company's success.

Key Dates