Form 4: COHU Executive Sells Shares, Forfeits PSUs

A Cohu Inc. Senior VP and Chief Customer Officer reported the sale of common stock and forfeiture of performance stock units.

Summary

• Christopher Bohrson, Sr VP & Chief Customer Officer of Cohu Inc., reported transactions in a Form 4 filing.
• On March 14, 2026, 3,131 shares of Common Stock were automatically withheld to cover tax obligations upon the vesting of Restricted Stock Units (RSUs).
• Also on March 14, 2026, 16,501 Performance Stock Units (PSUs) were forfeited because specified performance goals were not fully achieved.
• On March 16, 2026, 1,000 shares of Common Stock were sold at an exact execution price of $28.57 per share.
• The sale of common stock was conducted pursuant to a Rule 10b5-1(c) plan adopted on November 21, 2025.
• Following these transactions, Christopher Bohrson beneficially owns 176,202 shares of Common Stock, which includes 109,565 RSUs that will convert to common stock upon future vesting.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as slightly negative due to the forfeiture of a significant number of performance-based units, indicating a failure to meet internal targets, despite the stock sale being pre-planned.

Positives

• The sale of 1,000 shares of common stock was executed under a pre-arranged Rule 10b5-1(c) plan, indicating a planned transaction rather than an immediate reaction to market conditions.

Negatives

• 16,501 Performance Stock Units were forfeited because specified performance goals were not fully achieved, which could indicate underperformance against internal targets.
• An insider sold 1,000 shares of common stock, reducing their direct ownership.

Risks

• The forfeiture of 16,501 Performance Stock Units due to unachieved performance goals could signal potential challenges in meeting internal targets or broader business performance, which may impact future financial results.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance beyond the vesting conditions for existing RSUs, which assume continued service and achievement of specified performance goals.

Industry Context

StockSavvy.ai notes that insider transactions, particularly sales, are routinely monitored by investors for signals regarding management's confidence in the company's future prospects. While sales under 10b5-1 plans are often pre-scheduled and less indicative of immediate sentiment, the forfeiture of performance-based units can raise questions about the company's ability to meet its internal operational or financial targets, potentially lagging peers in performance within the semiconductor test equipment sector.

Comparison to Industry Standards

• The forfeiture of 16,501 Performance Stock Units due to unachieved performance goals suggests that Cohu Inc. may not have met certain internal benchmarks, which could be a point of concern compared to industry leaders like Teradyne (TER) or Advantest (ATEYY) who consistently report strong performance metrics in the semiconductor test equipment sector.
• The sale of 1,000 shares at $28.57 by an executive is a relatively small transaction in the context of the executive's total holdings (176,202 shares) and the company's market capitalization, making it less significant than larger, unscheduled sales seen in other companies.

Stakeholder Impact

• Shareholders: May view the forfeiture of PSUs as a negative signal regarding company performance and the insider sale, even if planned, as a slight reduction in insider ownership.
• Employees: The forfeiture of performance-based compensation could impact morale if it reflects broader company performance issues.

Next Steps

• 109,565 Restricted Stock Units (RSUs) will convert on a one-for-one basis into shares of Cohu, Inc. Common Stock immediately upon their vesting dates, assuming continued service through the vesting dates and achievement of specified performance goals.

Key Dates

Recommendation

While the forfeiture of performance stock units due to unachieved goals is a negative signal, the overall impact of the insider's sale is limited given it was a pre-planned 10b5-1 transaction and a relatively small portion of the executive's total holdings. Investors should monitor future performance reports for more comprehensive insights into the company's operational health.

Keywords

COHU, Form 4, Insider Trading, Stock Sale, Performance Stock Units, RSU, 10b5-1 Plan, Executive Compensation, Christopher Bohrson