4/A: Everspin Technologies VP Granted 50,000 Restricted Stock Units, Corrects Vesting Schedule
SEC Form 4/A
David Schrenk, VP of Sales & Business Development at Everspin Technologies, received 50,000 restricted stock units and amended the vesting schedule of a previous award.
Summary
- David Schrenk, VP of Sales & Business Development at Everspin Technologies, was granted 50,000 restricted stock units on February 24, 2025.
- These units vest in sixteen equal quarterly installments over four years, commencing on the grant date.
- An amendment was filed to correct the vesting schedule of a previously granted restricted stock award.
- Schrenk also has 141,647 shares of common stock.
- A power of attorney is in place, authorizing William Earl Cooper, Cesare Suardi, and Matt Hemington to execute Forms 3, 4, and 5 on Schrenk's behalf.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The correction of the vesting schedule suggests attention to detail and proper governance.
Positives
- The grant of restricted stock units aligns Schrenk's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment to the company.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock units.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.
Comparison to Industry Standards
- Stock grants are a common form of compensation for executives in the technology industry.
- Vesting schedules are typically used to ensure long-term commitment from employees.
- Companies like Micron Technology and Intel also use stock options and restricted stock units as part of their compensation packages.
Stakeholder Impact
- Shareholders may view the stock grant as a positive incentive for the VP of Sales & Business Development.
- Employees may see this as a positive sign of investment in leadership.
Key Dates
| Date | Description |
|---|---|
| 2025-01-09 | Date of Power of Attorney execution. |
| 2025-02-24 | Date of the transaction (grant of restricted stock units). |
| 2025-02-24 | Vesting commencement date for the restricted stock units. |
| 2025-02-25 | Date of original filing (amended). |
| 2025-02-26 | Date of the amendment filing. |
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