Form 4: Intevac Inc. Executive Colin Dickinson Reports Stock Transactions

Colin Dickinson, V.P. of Operations at Intevac Inc., reports the acquisition and disposal of company stock, including shares withheld for tax obligations and the grant of restricted stock units.

Summary

• On May 15, 2024, Colin Dickinson, V.P. of Operations at Intevac Inc., had 3,231 shares of common stock disposed of to cover tax obligations at a price of $4.03 per share.
• On May 16, 2024, Dickinson acquired 35,000 shares of Intevac Inc. common stock in the form of restricted stock units (RSUs).
• Following these transactions, Dickinson beneficially owns 125,105 shares of Intevac Inc. common stock.
• The RSUs vest over a 3-year period, with 33% vesting on the first anniversary and the remaining 67% vesting quarterly in years 2 and 3.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions. The RSU grant is a positive sign of aligning executive incentives, but the tax-related disposal is a neutral event.

Positives

• The grant of 35,000 RSUs to a key executive signals a long-term incentive and alignment with the company's success.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates stock transactions by a key executive at Intevac Inc.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of the shareholders, incentivizing long-term value creation.

Key Dates