Form 4: KLA Corp Executive Ahmad A. Khan Reports Stock Transactions Following RSU Vesting
SEC Form 4
Ahmad A. Khan, President of Semi Proc. Control at KLA Corp, reports the withholding of shares to cover tax obligations following the vesting of restricted stock units (RSUs).
Summary
- Ahmad A. Khan, a KLA Corp officer, filed a Form 4 detailing changes in beneficial ownership of KLA common stock.
- The transactions occurred on August 6, 2024, due to the vesting of restricted stock units (RSUs) granted on August 6, 2020.
- A portion of the vested shares were withheld to cover required tax obligations.
- 1,170.584 shares were withheld at a price of $703.48 per share.
- 3,511.752 shares were withheld at a price of $703.48 per share.
- Following the transactions, Khan directly owns 41,851.698 shares of KLA common stock, which includes 23,354.052 shares issuable upon vesting of RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions related to executive compensation. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like KLA Corp. It provides transparency to investors regarding insider transactions.
Comparison to Industry Standards
- Executive compensation practices, including the use of RSUs, are common across the semiconductor equipment industry.
- Companies like Applied Materials (AMAT) and ASML also utilize RSUs as part of their executive compensation packages.
- The vesting schedules and tax withholding practices described in the filing are generally consistent with industry norms.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/06/2020 | Reporting Person was granted restricted stock units ('RSUs') for 9,444.000 shares of KLA common stock. |
| 08/05/2024 | Fair market value of KLA common stock used for purposes of calculating the number of shares to be withheld was the closing price of KLA common stock as reported on August 5, 2024. |
| 08/06/2024 | Date of stock transactions: vesting of RSUs and withholding of shares for tax obligations. |
| 08/06/2024 | The remaining twenty-five percent (25%) of the RSUs vested. |
| 08/06/2024 | The remaining fifty percent (50%) of the performance-based restricted stock units granted on August 6, 2020 vested. |
| 08/08/2024 | Date of signature for the Form 4 filing. |
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