Form 4: Azenta Director Quentin Koffey Receives Annual Equity Grant

Director Quentin Koffey received an annual grant of 4,040 unrestricted shares of Azenta, Inc. common stock on February 7, 2025, while also disposing of 5,035 shares.

Summary

• On February 7, 2025, Quentin Koffey, a director of Azenta, Inc., received an annual grant of 4,040 unrestricted shares under the company's 2020 Equity Incentive Plan.
• The grant is in connection with Koffey's service on the Board of Directors.
• The share price used to determine the number of shares was $52.32, based on the average daily closing price over the 20 trading days leading up to and including February 7, 2025, resulting in a grant value of $215,000.
• Koffey also disposed of 5,035 shares of common stock.
• Koffey may be deemed the beneficial owner of 4,611,752 shares held by entities he controls, but he disclaims beneficial ownership except to the extent of any pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of an equity grant, which is generally neutral. The director disposing of shares is slightly negative, but the overall sentiment is balanced.

Positives

• The equity grant aligns Koffey's interests with those of Azenta's shareholders.
• The grant is part of the company's 2020 Equity Incentive Plan, suggesting a structured approach to director compensation.

Industry Context

Equity grants to board members are a common practice in publicly traded companies to incentivize and align their interests with the long-term performance of the company. The size and structure of the grant are typically benchmarked against peer companies and industry standards.

Comparison to Industry Standards

• Equity compensation for board members varies significantly based on company size, industry, and performance.
• Comparing Azenta's director compensation to companies like Danaher (DHR) or Thermo Fisher Scientific (TMO), which are also in the life sciences and diagnostics space, would provide a relevant benchmark.
• Typical director compensation packages include a mix of cash retainers and equity, with the equity component often vesting over several years to encourage long-term commitment.

Stakeholder Impact

• The equity grant could have a slightly positive impact on shareholder sentiment as it aligns director interests with company performance.
• The grant does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates