Form 4: INTT CFO Forfeits 4,670 Shares of Common Stock

Sentiment:

Insider Transaction Report 5 March 2026 4:30 PM

INTEST CORP's CFO, Duncan Gilmour, reported the forfeiture of 4,670 shares of common stock from a performance-based award.

Worse than expected4,670 shares of common stock were forfeited, indicating that performance targets for the associated restricted stock award were not met.

Summary

Duncan Gilmour, CFO, Treasurer & Secretary of INTEST CORP, reported a change in beneficial ownership.
He forfeited 4,670 shares of common stock on March 4, 2026, which were part of a performance-based restricted stock award granted on March 8, 2023.
Following this transaction, Mr. Gilmour directly owns 56,434 shares of common stock and indirectly owns 200 shares through his spouse.
He also holds employee stock options for a total of 61,789 shares of common stock, with various exercise prices and vesting schedules, including 8,104 fully vested shares.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as slightly negative for the executive due to the forfeiture of shares, but largely neutral for the company as it reflects the operation of a pre-existing performance-based compensation plan.

Positives

Mr. Gilmour retains significant beneficial ownership of 56,434 direct common shares and 200 indirect shares.
He holds substantial employee stock options totaling 61,789 shares, indicating continued long-term incentive alignment with the company.
A portion of his employee stock options, specifically 8,104 shares with an exercise price of $16.80, are fully vested as of the report date.

Negatives

Forfeiture of 4,670 shares of common stock, indicating that performance targets for a specific restricted stock award were not met.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures of insider transactions and do not typically provide broader industry context. This specific filing reflects an individual executive's compensation outcome rather than a strategic industry move.

Comparison to Industry Standards

Form 4 filings are specific to individual insider transactions and do not lend themselves to direct comparison with industry-wide financial benchmarks or project results.
The forfeiture of performance-based awards is a standard mechanism in executive compensation plans across various industries, reflecting whether pre-defined targets were met.

Stakeholder Impact

Shareholders: The forfeiture of shares by a key executive could be interpreted as performance targets not being met, which might raise questions about company performance, though the impact is likely minimal given the size of the forfeiture relative to total outstanding shares.

Key Dates

Date	Description
2023-03-08	Grant date of performance-based restricted stock award that resulted in forfeiture.
2023-03-09	Commencement of four equal annual installments for vesting of employee stock option (12,848 shares at $9.76 exercise price).
2024-03-08	Commencement of four equal annual installments for vesting of employee stock option (8,044 shares at $16.06 exercise price).
2025-03-06	Commencement of four equal annual installments for vesting of employee stock option (12,724 shares at $11.33 exercise price).
2026-03-04	Date of forfeiture of 4,670 shares of common stock.
2026-03-05	Signature date of the Form 4 filing.
2026-03-17	Commencement of four equal annual installments for vesting of employee stock options (1,992 and 18,077 shares at $7.74 exercise price).
2031-06-13	Expiration date of fully vested employee stock option (8,104 shares at $16.80 exercise price).
2032-03-08	Expiration date of employee stock option (12,848 shares at $9.76 exercise price).
2033-03-07	Expiration date of employee stock option (8,044 shares at $16.06 exercise price).
2034-03-05	Expiration date of employee stock option (12,724 shares at $11.33 exercise price).
2035-03-16	Expiration date of employee stock options (1,992 and 18,077 shares at $7.74 exercise price).

Recommendation

hold

This Form 4 filing details a routine insider transaction involving the forfeiture of a relatively small number of shares due to unmet performance targets. While it indicates that specific performance metrics were not achieved for a particular award, it does not provide sufficient information to alter the fundamental investment thesis for INTEST CORP. The executive retains substantial equity and options, suggesting continued alignment. Investors should 'hold' and await more comprehensive financial disclosures for a broader assessment of the company's performance and outlook.

Keywords

INTEST CORP, INTT, Form 4, Insider Transaction, Beneficial Ownership, Stock Forfeiture, Restricted Stock, Stock Options, CFO, Executive Compensation

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