Form 4: FormFactor Director Thomas St. Dennis Reports Acquisition of Restricted Stock Units

Director Thomas St. Dennis reports acquisition of restricted stock units in FormFactor Inc.

Summary

• Thomas St. Dennis, a director of FormFactor Inc., filed a Form 4 disclosing the acquisition of 3,828 shares of common stock in the form of restricted stock units (RSUs) on May 17, 2024.
• The RSUs were granted as part of a grant approved by the Board in March 2024.
• These RSUs vest monthly and become exercisable on the earlier of the 2025 Annual Meeting of Stockholders and May 17, 2025.
• Settlement of vested units into common stock will occur on the earlier of the Settlement Date and the date the reporting person ceases to provide service to the Issuer, and thereafter on the first market trading day if the applicable date is not a market trading day.
• St. Dennis directly owns 40,529 shares of FormFactor Inc. common stock following the reported transaction.
• The filing was signed by Stan Finkelstein, Attorney-in-fact for Thomas St. Dennis, on May 21, 2024.
• A power of attorney document is included, granting Shai Shahar, Stan Finkelstein, and Vandana Chand the authority to execute Forms 3, 4, and 5 on behalf of Thomas St. Dennis.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to stock options. The acquisition of RSUs by a director is generally viewed as a positive sign, but it's not a major event.

Positives

• The acquisition of RSUs by a director could be seen as a positive sign, indicating confidence in the company's future performance.

Risks

• If the reporting person ceases to provide services to the Issuer for any reason, all Restricted Stock Units that have not yet vested shall be forfeited without consideration except as provided in our Equity Grant Policy for Outside Directors and any other agreements between the reporting person and Issuer, regarding award vesting and exercisability.

Future Outlook

The RSUs vest monthly and become exercisable on the earlier of the 2025 Annual Meeting of Stockholders and May 17, 2025, indicating a future increase in St. Dennis's holdings if vesting conditions are met.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders and their holdings of company stock.

Stakeholder Impact

• The acquisition of RSUs by a director could have a minor positive impact on shareholder sentiment.

Key Dates