Form 4: Intevac CFO McAulay Receives 90,000 Restricted Stock Units

Intevac's Chief Financial Officer, Cameron McAulay, was granted 90,000 restricted stock units on January 7, 2025, according to a recent SEC filing.

Summary

• Cameron McAulay, the Chief Financial Officer of Intevac Inc., received 90,000 restricted stock units (RSUs) on January 7, 2025.
• These RSUs will vest over a three-year period.
• 33% of the shares will vest on the first anniversary of the vesting commencement date.
• The remaining 67% will vest quarterly in years two and three, with 8.375% vesting each quarter.
• Following this transaction, McAulay's total holdings include 138,000 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management interests with shareholders. There is no indication of any negative sentiment.

Positives

• The grant of RSUs aligns the CFO's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and contribution from the CFO.

Industry Context

The granting of restricted stock units is a common practice in the technology industry to incentivize and retain key executives.

Comparison to Industry Standards

• The vesting schedule of the RSUs, with a portion vesting annually and the remainder quarterly, is a fairly standard practice in the tech industry.
• Companies like Applied Materials and Lam Research also use similar equity-based compensation plans for their executives.

Stakeholder Impact

• The RSU grant may have a minor positive impact on shareholder sentiment as it aligns management's interests with the company's long-term performance.
• The vesting schedule encourages the CFO's continued service, which benefits the company and its stakeholders.

Key Dates

Keywords

restricted stock units, RSU, insider trading, Form 4, Intevac, executive compensation, vesting, Cameron McAulay, CFO