Form 4: inTEST Corp Executive Michael F. Goodrich Reports Stock and Option Awards

Michael F. Goodrich, Division President at inTEST Corp, reports the acquisition of restricted stock and stock options, as well as the disposal of common stock.

Summary

• Michael F. Goodrich, Division President-Process Tech at inTEST Corp, filed a Form 4 detailing changes in beneficial ownership.
• On March 17, 2025, Goodrich acquired 3,446 shares of common stock and disposed of 3,446 shares of common stock.
• He also acquired employee stock options to purchase 1,172 and 5,785 shares of common stock at exercise prices of $7.74 and $4.61 respectively, and already owned options to purchase 4,068 shares at $11.33.
• The restricted shares vest in annual installments starting March 17, 2026, or March 17, 2028 for performance-based shares.
• The options also vest in annual installments, commencing on March 17, 2026, or March 6, 2025 for the existing options.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, suggesting stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The granting of restricted stock and options to a key executive aligns their interests with those of the shareholders.
• The vesting schedules for the restricted stock and options encourage long-term commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance, but the vesting schedules suggest an expectation of continued employment and performance by the executive.

Industry Context

Stock and option awards are a common practice in the technology industry to incentivize and retain key executives. The specific terms of these awards are typical for executive compensation packages.

Comparison to Industry Standards

• Executive compensation packages in the tech industry often include a mix of base salary, stock options, and restricted stock units (RSUs).
• Companies like Applied Materials, Lam Research, and KLA Corporation also utilize similar compensation strategies to align executive interests with shareholder value.
• Vesting schedules of 3-5 years are standard for both stock options and RSUs to encourage long-term commitment.

Stakeholder Impact

• Shareholders may view the stock and option grants positively as they incentivize executive performance.
• Employees may see the grants as a sign of the company's commitment to its leadership.

Key Dates

Keywords

Form 4, beneficial ownership, stock options, restricted stock, INTT, inTEST Corp, Goodrich, executive compensation