Form 4: Axcelis Technologies Executive VP Lynnette C. Fallon Reports Share Forfeiture for Tax Obligations
SEC Form 4 Filing
Lynnette C. Fallon, Executive VP at Axcelis Technologies, reports a forfeiture of shares to cover tax withholding obligations related to vested restricted stock units.
Summary
- On June 5, 2024, Lynnette C. Fallon, Executive VP at Axcelis Technologies, reported a transaction on SEC Form 4.
- The transaction involved the forfeiture of 272 shares of common stock to cover tax withholding obligations.
- This forfeiture relates to the vesting of restricted stock units granted in May of 2020, 2021, 2022 and 2023.
- The shares were forfeited because the initial tax withholding was insufficient to cover a Massachusetts income tax surcharge.
- Following the transaction, Fallon beneficially owns 30,406 shares of Axcelis Technologies common stock, with 11,845 of those shares issuable upon the vesting of restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| May 2020 | Initial grant date of service vesting restricted stock units. |
| May 2021 | Grant date of service vesting restricted stock units. |
| May 2022 | Grant date of service vesting restricted stock units. |
| May 2023 | Grant date of service vesting restricted stock units. |
| May 2024 | Vesting of restricted stock units and initial tax withholding. |
| 06/05/2024 | Date of share forfeiture to cover tax shortfall. |
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