Form 4: AXT Inc. CEO Morris S. Young Receives Stock Grant in Lieu of Cash Bonus

AXT Inc.'s CEO, Morris S. Young, received 39,792 shares of common stock on August 20, 2024, in lieu of his cash bonus for the second fiscal quarter of 2024.

Summary

• Morris S. Young, the Chairman and CEO of AXT Inc., received 39,792 shares of AXT Inc. common stock on August 20, 2024.
• The stock grant was made in lieu of his cash bonus for the second fiscal quarter of 2024, under the company's Executive Incentive Plan.
• The common stock was granted under the Issuer's 2015 Equity Incentive Plan, in a transaction exempt under Rule 16b-3.
• The number of shares was calculated based on a conversion price of $3.10, which is the 30-day trading average of AXT Inc.'s common stock closing price from the grant date.
• Following the transaction, Young directly owns 2,028,838 shares of AXT Inc. common stock.
• A Limited Power of Attorney was executed on August 22, 2024, appointing Jeff Sensiba and Alan Chan as attorneys-in-fact for Section 16 reporting obligations.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to executive compensation. It's neutral in tone and doesn't contain overtly positive or negative information. The sentiment is slightly positive as the CEO taking stock instead of cash could be seen as a good sign.

Positives

• The CEO's acceptance of stock in lieu of cash may signal confidence in the company's future performance.
• The grant aligns the CEO's interests with those of shareholders.

Industry Context

Stock grants are a common form of executive compensation in the technology industry, aligning management's interests with shareholder value.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns the CEO's interests with the company's stock performance.

Key Dates