Form 4: Axcelis Technologies Executive VP Lynnette C. Fallon Reports Stock Transactions
SEC Form 4
Lynnette C. Fallon, Executive VP at Axcelis Technologies, reports the forfeiture of shares for tax withholding related to the vesting of performance-based restricted stock units.
Summary
- On February 28, 2024, Lynnette C. Fallon, Executive VP at Axcelis Technologies, reported transactions involving common stock.
- These transactions involved the forfeiture of shares to cover tax withholding obligations related to the vesting of performance-based restricted stock units (PRSUs) granted in May 2022 and May 2023.
- Specifically, 1,123 shares were forfeited related to the 2022 PRSUs, and 536 shares were forfeited related to the 2023 PRSUs.
- Following these transactions, Fallon directly owns 30,295 shares of Axcelis Technologies common stock.
- Of these shares, 15,423 are issuable on vesting of restricted stock units granted under the 2012 Equity Incentive Plan and are subject to forfeiture.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, with neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-05 | Performance based restricted stock units ('PRSUs') granted to the executive in May 2022. |
| 2023-02-16 | Axcelis Technologies, Inc. Compensation Committee determined shares to be earned by the executive pursuant to a resolution. |
| 2023-02-28 | Half of the earned shares vested. |
| 2023-05 | PRSUs granted to the executive in May 2023. |
| 2024-02-08 | Axcelis Technologies, Inc. Compensation Committee determined 135% of units granted to be earned by the executive pursuant to a resolution. |
| 2024-02-28 | Date of transaction and signature; vesting of remainder of 2022 PRSUs and half of the earned shares of 2023 PRSUs. |
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