Form 4: FormFactor CEO Mike Slessor Reports Stock Transactions
SEC Form 4 Filing
FormFactor CEO Mike Slessor reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On November 5, 2024, FormFactor CEO Mike Slessor reported transactions involving the company's common stock.
- 3,644 shares were acquired through the vesting of restricted stock units.
- 2,021 shares were disposed of to cover tax withholding obligations at a price of $39.23 per share.
- Following these transactions, Slessor's direct ownership is 527,899 shares of common stock.
- Slessor also holds 40,084 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The restricted stock units vest in twelve quarterly installments beginning on November 5, 2024, and ending on August 5, 2027, subject to continued employment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the trading activities of company leadership.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 11/05/2024 | Date of stock transactions (vesting of restricted stock units and tax withholding). |
| 08/05/2024 | Date of grant of restricted stock units. |
| 11/05/2024 | First vesting date of restricted stock units. |
| 08/05/2027 | Final vesting date of restricted stock units. |
| 11/06/2024 | Date of signature on the Form 4 filing. |
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