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

Gerald M. Blumenstock, EVP at Axcelis Technologies, reports the forfeiture of 748 shares of common stock to cover tax obligations related to vested performance-based restricted stock units.

Summary

• On February 28, 2025, Gerald M. Blumenstock, EVP at Axcelis Technologies, forfeited 748 shares of common stock to cover tax withholding obligations.
• This forfeiture is related to the vesting of performance-based restricted stock units (PRSUs) granted in May 2024.
• The Axcelis Technologies, Inc. Compensation Committee determined on February 13, 2025, that 150% of the 2024 PRSUs were earned.
• Half of the earned shares vested on February 28, 2025.
• The forfeited shares were valued at $54.79 each, the closing price of Axcelis Technologies' common stock on February 28, 2025.
• Following the transaction, Blumenstock directly owns 10,250 shares of Axcelis Technologies stock, including 8,122 shares issuable on vesting of restricted stock units.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a routine transaction related to executive compensation. It doesn't indicate positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

• The forfeiture of shares has a minor dilutive effect on existing shareholders.
• The vesting of restricted stock units incentivizes the executive to perform well, potentially benefiting shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Forfeiture, Tax Withholding, Restricted Stock Units, Axcelis Technologies, Blumenstock, ACLS