Form 4: Frequency Electronics CEO Thomas McClelland Reports Stock Transactions

Thomas McClelland, President and CEO of Frequency Electronics Inc, reports acquisition and disposal of company stock, including restricted stock units and shares withheld for tax obligations.

Summary

• On January 4, 2023, Thomas McClelland was granted 20,000 restricted stock units which vest in four equal annual installments commencing January 4, 2024.
• On July 31, 2023, McClelland was granted 50,000 performance based restricted stock units.
• As of July 31, 2024, the performance requirements for these units have been met, and they vest in four equal annual installments commencing July 31, 2024.
• On July 31, 2024, 4,569 shares were withheld to cover tax obligations at a price of $13.6 per share.
• Following these transactions, McClelland's beneficial ownership of Frequency Electronics Inc stock is 97,782 shares as of November 4, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports stock transactions related to executive compensation. The vesting of performance-based units is a slightly positive signal.

Positives

• The vesting of performance-based restricted stock units suggests that performance targets were achieved.

Negatives

• 4,569 shares were withheld to cover tax obligations, reducing the number of shares directly held by the CEO.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.

Stakeholder Impact

• The reported transactions provide shareholders with insight into the CEO's holdings and alignment with company performance.

Key Dates