Form 4: Azenta Director Quentin Koffey Reports Acquisition of Shares

Director Quentin Koffey reported acquiring 995 shares of Azenta, Inc. common stock on November 6, 2024, as part of a pro-rated annual grant for joining the Board.

Summary

• On November 6, 2024, Quentin Koffey, a director of Azenta, Inc., acquired 995 shares of common stock.
• The acquisition was a pro-rated annual grant under the company's 2020 Equity Incentive Plan, related to Koffey joining the Board of Directors on November 1, 2024.
• The grant was valued at $43,185, with a price per share of $43.41, based on the average daily closing price over the 20 trading days leading up to and including November 6, 2024.
• Koffey also indirectly owns 4,611,752 shares through entities he controls, but disclaims beneficial ownership except to the extent of any pecuniary interest.
• Koffey serves as a director of the Board, and as a result, the entities referenced are directors by deputization for purposes of Section 16 of the Exchange Act.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing indicates a director is acquiring shares, which can be seen as a positive sign of confidence. However, it's a routine transaction and doesn't necessarily indicate a major shift in the company's prospects.

Positives

• The acquisition of shares by a director signals confidence in the company.
• The equity incentive plan aligns the director's interests with those of the shareholders.

Management Comments

• The Reporting Person disclaims beneficial ownership of any of these shares, except to the extent of any pecuniary interest therein.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency regarding the holdings of company insiders and their alignment with shareholder interests.

Comparison to Industry Standards

• Equity grants to board members are a standard practice in publicly traded companies to align their interests with shareholders.
• The size of the grant ($43,185) appears to be within a typical range for board member compensation at companies of similar size and industry to Azenta.
• Companies like Thermo Fisher Scientific, Danaher, and Agilent Technologies also utilize equity grants as part of their board compensation packages.

Management Changes

Stakeholder Impact

• Shareholders may view the director's share acquisition as a positive sign.
• The equity incentive plan aligns the director's interests with those of the shareholders.

Key Dates