Form 4: FormFactor CEO Mike Slessor Reports Stock Transactions
SEC Form 4
FormFactor CEO Mike Slessor reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On May 7, 2024, Mike Slessor, CEO of FormFactor Inc., reported transactions involving FormFactor's common stock.
- Slessor acquired 5,908 shares of common stock through the vesting of restricted stock units.
- Simultaneously, 2,108 shares were disposed of to cover tax withholding obligations at a price of $56.03 per share.
- Following these transactions, Slessor directly owns 495,581 shares of FormFactor common stock and 53,172 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.
Future Outlook
The restricted stock units vest in twelve quarterly installments ending on August 7, 2026, subject to continued employment, with potential exceptions in change of control or other agreements.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions have a minor impact on the overall shareholding structure.
- The disclosure provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| November 7, 2023 | Start date of the twelve (12) quarterly installments for vesting of Restricted Stock Units |
| May 7, 2024 | Date of stock transactions: acquisition of shares via vesting of restricted stock units and disposal of shares for tax withholding. |
| May 8, 2024 | Date of signature for the report. |
| August 7, 2026 | End date of the twelve (12) quarterly installments for vesting of Restricted Stock Units |
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