Form 4: Axcelis Technologies Executive VP Lynnette C. Fallon Reports Share Forfeiture for Tax Obligations
SEC Form 4 Filing
Executive VP of Axcelis Technologies, Lynnette C. Fallon, forfeited 3,083 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Lynnette C. Fallon, Executive VP of HR/Legal at Axcelis Technologies, reported a transaction involving the forfeiture of 3,083 shares of common stock.
- This forfeiture was to cover tax withholding obligations related to the vesting of restricted stock units on January 3, 2025.
- The shares were forfeited at a price of $71.96 per share.
- Following the transaction, Ms. Fallon beneficially owns 27,323 shares of Axcelis Technologies common stock.
- The vesting of 4,551 shares of restricted stock units under the 2012 Equity Incentive Plan are subject to forfeiture.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a standard transaction related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- The forfeiture of shares to cover tax obligations is a common practice in executive compensation packages across various industries.
- Many companies use restricted stock units as part of their executive compensation plans, and these often come with tax withholding obligations upon vesting.
- The specific number of shares forfeited and the price per share are unique to this transaction but the process is standard.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares, but is not expected to significantly affect shareholders.
- The transaction is part of the company's executive compensation plan and is not expected to impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/03/2025 | Date of the share forfeiture and vesting of restricted stock units. |
| 01/07/2025 | Date the Form 4 was signed. |
Keywords
Axcelis Technologies, Lynnette C. Fallon, stock forfeiture, restricted stock units, tax withholding, executive compensation, equity incentive plan
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