Form 4: InTEST Corp CEO Richard N. Grant, Jr. Reports Stock and Option Grants

Richard N. Grant, Jr., CEO of inTEST Corp, reports the acquisition of restricted stock and stock options, as well as adjustments to his holdings.

Summary

• On March 6, 2024, Richard N. Grant, Jr., the President and CEO of inTEST Corp, reported transactions involving the company's stock.
• Grant acquired 17,652 restricted shares of common stock at $0, which will vest in four equal annual installments starting March 6, 2025, bringing his direct holdings to 220,203 shares.
• He also acquired 17,652 performance-based restricted shares at $0, which will vest on March 6, 2027, dependent on performance criteria, potentially increasing his holdings to 237,855 shares; the maximum number of shares that may vest is 26,478.
• Additionally, Grant acquired 30,536 employee stock options with an exercise price of $11.33, vesting in four equal annual installments commencing on March 6, 2025.
• Grant already holds options to buy 16,988 shares at $16.06 (vesting from March 8, 2024), 25,692 shares at $9.76 (vesting from March 9, 2023), and 112,000 shares at $10.62 (vesting from March 10, 2022).

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports routine executive compensation adjustments. It's neither particularly positive nor negative from an investment perspective.

Positives

• The grant of restricted stock and options to the CEO aligns his interests with those of the shareholders.
• The vesting schedules for the grants incentivize long-term performance and retention.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Stakeholder Impact

• The grants align the CEO's interests with shareholders, potentially driving long-term value creation.

Key Dates