Form 4: FormFactor CEO Mike Slessor Reports Stock Transactions
SEC Form 4 Filing
Form 4 filing reveals FormFactor CEO Mike Slessor's stock transactions involving the vesting of restricted stock units and subsequent tax withholding.
Summary
- On August 7, 2024, Mike Slessor, CEO of FormFactor Inc., engaged in transactions involving the company's common stock.
- Slessor vested 5,908 restricted stock units (RSUs) which converted into common stock.
- 3,276 shares were then disposed of to cover tax withholding obligations at a price of $43.11 per share.
- Following these transactions, Slessor directly owns 538,276 shares of FormFactor Inc.
- Slessor also directly owns 47,264 derivative securities in the form of Restricted Stock Units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports required stock transactions by an executive. It doesn't inherently indicate positive or negative performance for the company.
Future Outlook
The restricted stock units vest in twelve (12) quarterly installments beginning on November 7, 2023 and end on August 7, 2026 and will be settled into shares of common stocks on or following the vesting date.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC to ensure transparency and prevent insider trading.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| November 7, 2023 | Start date of the twelve (12) quarterly installments for vesting of restricted stock units. |
| August 7, 2024 | Date of stock transactions: vesting of RSUs and disposal of shares for tax withholding. |
| August 7, 2026 | End date of the twelve (12) quarterly installments for vesting of restricted stock units. |
| August 8, 2024 | Date of signature on the Form 4 filing. |
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