Form 4: Century Aluminum Director Andrew Michelmore Reports Routine RSU Grant and Tax-Related Share Withholding

Andrew G. Michelmore, a Director at Century Aluminum Co., reported the acquisition of 7,778 restricted stock units (RSUs) and the disposition of 2,333 shares for tax obligations, resulting in a net increase in his beneficial ownership.

Summary

• Andrew G. Michelmore, a Director of Century Aluminum Co. (CENX), reported transactions on June 16, 2025, related to his beneficial ownership.
• He acquired 7,778 shares of Common Stock, representing an annual grant of restricted stock units (RSUs) which vested immediately on the grant date.
• Concurrently, 2,333 shares of Common Stock were disposed of at a price of $17.36 per share to satisfy tax obligations related to the RSU vesting.
• Following these transactions, Mr. Michelmore's direct beneficial ownership of Century Aluminum Common Stock stands at 89,089 shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine compensation event for a director, involving both a grant of shares and a disposition for tax purposes, which is a standard practice.

Positives

• The reporting person, Andrew G. Michelmore, received an annual grant of 7,778 restricted stock units (RSUs), indicating ongoing compensation and alignment with shareholder interests.
• All granted RSUs vested immediately on the date of grant, providing immediate ownership to the director.

Negatives

• A portion of the granted shares (2,333 shares) were withheld by the issuer to cover tax obligations, reducing the net number of shares directly added to the director's beneficial ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions and does not provide broader industry context or trends. It reflects standard executive compensation practices within publicly traded companies, including those in the aluminum industry.

Related Party Transactions

• The grant of 7,778 restricted stock units (RSUs) to Andrew G. Michelmore, a director, by Century Aluminum Company constitutes a related party transaction as it involves compensation from the issuer to an insider.

Stakeholder Impact

• Shareholders: The grant of RSUs represents a form of equity-based compensation, which can lead to minor dilution but also aligns management's interests with shareholder value. The shares withheld for tax purposes do not represent a sale into the open market by the director.
• Employees: No direct impact on general employees is indicated by this filing.

Key Dates

Keywords

Century Aluminum, CENX, Form 4, SEC filing, insider trading, restricted stock units, RSU, executive compensation, director ownership, stock grant, tax withholding