Form 4: Axcelis Technologies Executive Greg Redinbo Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP of Marketing and Applications at Axcelis Technologies, Greg Redinbo, reports the forfeiture of shares for tax withholding related to the vesting of performance-based restricted stock units.
Summary
- On February 28, 2024, Greg Redinbo, EVP of Marketing and Applications at Axcelis Technologies, reported changes in beneficial ownership of company stock.
- The changes involve the forfeiture of 477 shares of common stock to cover tax withholding obligations related to the vesting of performance-based restricted stock units (PRSUs).
- These PRSUs were granted in May 2023, and 135% of the units were determined to be earned as of February 8, 2024.
- Half of the earned shares vested on February 28, 2024.
- After the reported transaction, Redinbo beneficially owns 17,360 shares of Axcelis Technologies stock.
- Of these shares, 13,074 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 routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| May 2023 | Date of grant for performance based restricted stock units (PRSUs). |
| February 8, 2024 | Date the Axcelis Technologies, Inc. Compensation Committee determined that 135% of the PRSUs were earned. |
| February 28, 2024 | Date of the reported transaction (stock forfeiture) and vesting of PRSUs. |
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