Form 4: Axcelis Technologies Executive Greg Redinbo Reports Stock Forfeiture for Tax Withholding

EVP of Marketing and Applications at Axcelis Technologies, Greg Redinbo, reports forfeiture of shares to cover tax obligations related to vesting of performance-based restricted stock units.

Summary

• Greg Redinbo, EVP of Marketing and Applications at Axcelis Technologies, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates a forfeiture of 471 shares on February 28, 2025, to cover tax withholding related to the vesting of 2023 performance-based restricted stock units (PRSUs).
• Another forfeiture of 749 shares occurred on the same date for tax withholding related to the vesting of 2024 PRSUs.
• Both forfeitures were executed at a price of $54.79 per share, which was the closing price of Axcelis Technologies' common stock on February 28, 2025.
• Following these transactions, Redinbo directly owns 21,883 shares of Axcelis Technologies.
• Of these shares, 14,123 are issuable on vesting of restricted stock units granted under the 2012 Equity Incentive Plan and are subject to forfeiture, and 11,985 shares 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 neutral report on stock transactions related to executive compensation. It doesn't indicate positive or negative performance for the company.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It doesn't necessarily reflect broader industry trends but provides insight into individual executive compensation structures.

Comparison to Industry Standards

• Executive compensation packages including performance-based restricted stock units (PRSUs) are common in the technology industry.
• Companies like Applied Materials (AMAT) and Lam Research (LRCX) also utilize similar equity-based compensation to align executive incentives with company performance.
• The vesting schedules and performance metrics associated with these PRSUs vary across companies but generally aim to reward executives for achieving specific financial or strategic goals.

Key Dates