Form 4: Intevac CFO McAulay Reports Share Disposal Following Merger Agreement

Cameron McAulay, CFO of Intevac, reports the disposal of shares and restricted stock units following the merger agreement with Seagate Technology Holdings plc.

Summary

• Cameron McAulay, the Chief Financial Officer of Intevac Inc., filed a Form 4 on April 1, 2025, reporting changes in beneficial ownership of the company's stock.
• The filing details transactions that occurred on March 31, 2025, related to the merger agreement with Seagate Technology Holdings plc.
• McAulay disposed of 3,751 shares of common stock at $4.00 per share as part of the merger agreement.
• He also disposed of 138,000 restricted stock units (RSUs) and 135,000 performance-based restricted stock units (PRSUs), receiving cash payments based on the merger consideration.
• Following these transactions, McAulay's direct ownership of Intevac common stock is reported as zero.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing reporting transactions related to a merger. It doesn't convey strong positive or negative sentiment, but rather reports factual information.

Future Outlook

The document primarily reports on past transactions related to the merger agreement, and does not contain forward-looking statements about the company's future outlook.

Industry Context

This announcement reflects a merger and acquisition event, which is a common occurrence in the technology industry as companies seek to consolidate, expand their market presence, or acquire new technologies.

Stakeholder Impact

• Shareholders who tendered their shares received $4.00 per share.
• Employees holding RSUs and PRSUs received cash payments based on the merger consideration.

Key Dates

Keywords

Form 4, Intevac, Cameron McAulay, Seagate Technology, Merger, Share Disposal, RSU, PRSU, Beneficial Ownership