Form 4: Intevac Inc. Executive Colin Dickinson Acquires 50,000 Shares Through Restricted Stock Units

Intevac Inc.'s Vice President of Operations, Colin Dickinson, acquired 50,000 shares of common stock through restricted stock units on January 7, 2025.

Summary

• Colin Dickinson, Vice President of Operations at Intevac Inc., acquired 50,000 shares of common stock.
• The acquisition was made through restricted stock units (RSUs).
• The RSUs will vest over a 3-year period.
• 33% of the shares will vest on the first anniversary of the vesting commencement date.
• The remaining 67% of the shares will vest quarterly in years 2 and 3, at a rate of 8.375% per quarter.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed positively as it aligns management's interests with shareholders. The sentiment is neutral to positive.

Positives

• The acquisition of shares by a company executive can be seen as a positive sign of confidence in the company's future.

Future Outlook

The vesting schedule of the restricted stock units indicates a long-term incentive for the executive, aligning his interests with the company's performance over the next three years.

Industry Context

This type of stock-based compensation is common in the technology industry to attract and retain key talent and align their interests with the long-term success of the company.

Comparison to Industry Standards

• Stock-based compensation, such as restricted stock units, is a standard practice among publicly traded technology companies like Intevac.
• Companies such as Applied Materials, Lam Research, and KLA Corporation also use similar compensation methods to incentivize their executives.
• The vesting schedule of 3 years with a cliff vest at 1 year followed by quarterly vesting is a common structure in the industry.

Stakeholder Impact

• The acquisition of shares by a key executive may positively influence shareholder confidence.
• The vesting schedule of the RSUs aligns the executive's interests with the long-term performance of the company, which is beneficial for shareholders.

Key Dates

Keywords

Intevac Inc, Colin Dickinson, restricted stock units, RSU, share acquisition, executive compensation, stock vesting