Form 4: Cognex Corp: Chief Technology Officer Kuechen Reports Stock Option and Restricted Stock Unit Grants
Form 4 Filing
Joerg Kuechen, Chief Technology Officer of Cognex Corp, reports the acquisition of stock options and restricted stock units.
Summary
- On February 18, 2025, Joerg Kuechen, the Chief Technology Officer of Cognex Corp, reported transactions involving derivative securities.
- Kuechen acquired 55,141 non-qualified stock options with an exercise price of $33.04, vesting in five equal annual installments starting February 18, 2026, and expiring on February 18, 2035.
- He also acquired 20,279 restricted stock units, vesting approximately 20%, 30%, and 50% on the first, second, and third anniversaries of the grant date (February 18, 2025), respectively.
- Kuechen directly owns 12,500 non-qualified stock options with an exercise price of $38.39 expiring on 02/21/2027.
- Kuechen directly owns 89,103 non-qualified stock options with an exercise price of $39.44 expiring on 02/20/2034.
- Kuechen directly owns 67,759 non-qualified stock options with an exercise price of $47.21 expiring on 02/21/2033.
- Kuechen directly owns 39,894 non-qualified stock options with an exercise price of $47.95 expiring on 08/04/2032.
- Kuechen directly owns 80,000 non-qualified stock options with an exercise price of $50.94 expiring on 02/18/2030.
- Kuechen directly owns 45,000 non-qualified stock options with an exercise price of $51.49 expiring on 02/19/2029.
- Kuechen directly owns 30,000 non-qualified stock options with an exercise price of $56.44 expiring on 02/20/2028.
- Kuechen directly owns 49,530 non-qualified stock options with an exercise price of $64.43 expiring on 02/22/2032.
- Kuechen directly owns 29,486 non-qualified stock options with an exercise price of $90.5 expiring on 02/16/2031.
- Kuechen directly owns 4,229 restricted stock units vesting on 02/22/2025.
- Kuechen directly owns 10,168 restricted stock units vesting on 02/21/2026.
- Kuechen directly owns 17,749 restricted stock units vesting on 02/20/2027.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of executive compensation, which is generally viewed neutrally. The grant of equity can be seen as a positive sign of aligning management interests with shareholders, but it also represents potential dilution.
Positives
- The grant of stock options and restricted stock units aligns the executive's interests with those of the shareholders.
- The vesting schedules for both the options and restricted stock units incentivize long-term performance.
Industry Context
Stock options and restricted stock units are common forms of executive compensation in the technology industry, used to attract and retain talent and align their interests with company performance.
Comparison to Industry Standards
- Executive compensation packages, including stock options and restricted stock units, are common practice among publicly traded companies, particularly in the tech sector.
- Companies like Keyence, Omron, and Teledyne Technologies also utilize similar equity-based compensation to incentivize their executives.
- The specific amounts and vesting schedules can vary widely based on company size, performance, and industry benchmarks.
Stakeholder Impact
- Shareholders may experience slight dilution due to the issuance of new shares upon option exercise or RSU vesting.
- Employees may be motivated by the executive's alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 02/21/2018 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $38.39 expiring on 02/21/2027. |
| 02/19/2020 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $51.49 expiring on 02/19/2029. |
| 02/18/2021 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $50.94 expiring on 02/18/2030. |
| 02/16/2022 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $90.5 expiring on 02/16/2031. |
| 02/22/2023 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $64.43 expiring on 02/22/2032 and Restricted Stock Unit vesting on 02/22/2025. |
| 02/21/2024 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $47.21 expiring on 02/21/2033 and Restricted Stock Unit vesting on 02/21/2026. |
| 02/18/2025 | Date of transaction, grant date for new stock options and restricted stock units. |
| 02/20/2025 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $39.44 expiring on 02/20/2034 and Restricted Stock Unit vesting on 02/20/2027. |
| 02/18/2026 | First vesting date for the newly granted stock options and first vesting date for the newly granted restricted stock units. |
| 08/04/2026 | Date of Non-Qualified Stock Option (right to buy) with an exercise price of $47.95 expiring on 08/04/2032. |
Keywords
stock options, restricted stock units, Form 4, Cognex Corp, CGNX, Joerg Kuechen, Chief Technology Officer, executive compensation, insider trading
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