Form 4: Entegris Inc. CEO Bertrand Loy Reports Acquisition of Restricted Stock Units and Stock Options
SEC Form 4 Filing
Entegris Inc. CEO Bertrand Loy reported the acquisition of restricted stock units and stock options on April 1, 2024, according to a Form 4 filing with the SEC.
Summary
- On April 1, 2024, Bertrand Loy, the President and CEO of Entegris Inc., reported acquiring 38,208 shares of common stock in the form of restricted stock units.
- These restricted stock units vest over a four-year period, starting on April 5, 2025, with 25% of the shares vesting annually.
- Loy also acquired 65,880 employee stock options with an exercise price of $140.62 on the same date.
- These options also vest in four equal annual installments beginning on April 5, 2025.
- Following these transactions, Loy directly owns 263,068 shares of Entegris Inc. common stock and 65,880 derivative securities.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The filing reflects standard executive compensation practices, indicating confidence in the company's future performance. The vesting schedules suggest a long-term commitment from the CEO.
Positives
- The grant of restricted stock units and stock options aligns the CEO's interests with those of the shareholders.
- The vesting schedules encourage long-term commitment and performance from the CEO.
Industry Context
This filing is a routine disclosure of executive compensation and ownership changes, common in publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.
Comparison to Industry Standards
- Stock option and restricted stock unit grants are common compensation tools for CEOs in the technology and manufacturing sectors, aligning their interests with shareholder value.
- Vesting schedules of four years are typical to ensure long-term commitment.
- Companies like Applied Materials (AMAT) and Lam Research (LRCX) also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- The equity grants align the CEO's interests with those of shareholders, potentially driving long-term value creation.
- Employees may view the CEO's equity stake as a positive sign of leadership commitment.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of transaction: Acquisition of restricted stock units and stock options. |
| 04/03/2024 | Date of signature on the Form 4 filing. |
| 04/05/2025 | First vesting date for 25% of the restricted stock units and the first installment of the stock options. |
| 04/05/2026 | Second vesting date for 25% of the restricted stock units and the second installment of the stock options. |
| 04/05/2027 | Third vesting date for 25% of the restricted stock units and the third installment of the stock options. |
| 04/05/2028 | Final vesting date for 25% of the restricted stock units and the final installment of the stock options. |
| 04/01/2031 | Expiration date of the employee stock options. |
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