Form 4: Intevac Director Eiji Miyanaga Reports Acquisition of Restricted Stock Units and Stock Options

Director Eiji Miyanaga reports acquisition of 12,000 restricted stock units and 10,300 non-qualified stock options in Intevac Inc.

Summary

• On August 28, 2024, Eiji Miyanaga, a director of Intevac Inc. (IVAC), reported the acquisition of 12,000 shares of common stock in the form of restricted stock units.
• These restricted stock units were awarded to Miyanaga and represent a contingent right to receive one share of IVAC common stock each.
• The restricted stock units will vest on May 15, 2025.
• Miyanaga also acquired 10,300 non-qualified stock options with an exercise price of $3.54.
• These options become exercisable on May 15, 2025, and expire on August 28, 2031.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns management interests with shareholders. The acquisition of stock indicates confidence in the company's future.

Positives

• The acquisition of restricted stock units and stock options by a director signals confidence in the company's future performance.

Future Outlook

The report does not contain specific forward-looking statements, but the vesting of restricted stock units and exercisability of stock options are tied to future dates.

Industry Context

Stock options and restricted stock units are common forms of executive compensation in the technology industry, aligning management's interests with those of shareholders.

Stakeholder Impact

• The acquisition of stock options and restricted stock units aligns the director's interests with those of shareholders, potentially driving decisions that increase shareholder value.

Key Dates