Form 4: Cognex EVP Carl Gerst Reports Stock Transactions Following RSU Vesting
SEC Form 4
Executive Vice President of Cognex, Carl Gerst, reports the acquisition and disposal of company stock related to the vesting of restricted stock units (RSUs) and the subsequent withholding of shares for tax obligations.
Summary
- Carl Gerst, EVP of Vision & ID Products at Cognex Corp, filed a Form 4 detailing changes in beneficial ownership.
- The transactions involve the vesting of restricted stock units (RSUs) and the subsequent disposal of shares to cover tax withholding obligations.
- On February 20, 2025, 4,564 shares vested, and 1,487 shares were disposed of at $33.4 to cover taxes, leaving a balance of 3,077 shares.
- On February 21, 2025, 5,274 shares vested, and 1,548 shares were disposed of at $32.78 to cover taxes, leaving a balance of 6,803 shares.
- On February 22, 2025, 6,464 shares vested, and 1,898 shares were disposed of at $32.78 to cover taxes, leaving a balance of 11,369 shares.
- Gerst also holds various non-qualified stock options with exercise prices ranging from $33.04 to $65.9 and expiration dates between 2028 and 2035.
- Following these transactions, Gerst directly owns 11,369 shares of common stock, along with various derivative securities including RSUs and stock options.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- The vesting schedules and tax withholding practices described in the document are typical for RSU grants.
- Companies like Keyence, Omron, and Teledyne Technologies also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they relate to the executive's personal financial management.
- The transactions are part of the overall executive compensation structure, which is designed to align management's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/18/2021 | Date of Non-Qualified Stock Option (right to buy) with exercise price of $50.94 and expiration date of 02/18/2030 |
| 02/22/2022 | Grant date for restricted stock units that vest approximately 20%, 30%, and 50% on the first, second, and third anniversaries, respectively. |
| 02/21/2023 | Grant date for restricted stock units that vest approximately 20%, 30%, and 50% on the first, second, and third anniversaries, respectively. |
| 02/22/2023 | Date of Non-Qualified Stock Option (right to buy) with exercise price of $64.43 and expiration date of 02/22/2032 |
| 02/20/2024 | Grant date for restricted stock units that vest approximately 20%, 30%, and 50% on the first, second, and third anniversaries, respectively. |
| 02/20/2025 | Date of earliest transaction; vesting of RSUs and disposal of shares for tax obligations. |
| 10/30/2025 | Date of Non-Qualified Stock Option (right to buy) with exercise price of $65.9 and expiration date of 10/30/2030 |
| 02/24/2025 | Date of Form 4 filing. |
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