Form 4: KLA Corp Executive Mary Beth Wilkinson Reports Stock Transactions Following RSU Vesting
SEC Form 4
Mary Beth Wilkinson, EVP, CLO and Secretary of KLA Corp, reports the vesting of restricted stock units (RSUs) and subsequent stock sales to cover tax obligations.
Summary
- Mary Beth Wilkinson, an executive at KLA Corp, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- The reported transactions involve the vesting of restricted stock units (RSUs) granted in previous years (2021, 2022, and 2023).
- A portion of the vested shares were automatically withheld to cover required tax obligations.
- Wilkinson also sold shares of KLA common stock on August 5, 2024, at prices of $649.84 and $675 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan.
- Following these transactions, Wilkinson directly owns 9,297.507 shares of KLA common stock, which includes 9,294.374 shares issuable upon vesting of RSUs.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock transactions, with no indication of unusual or concerning activity. The sentiment is neutral.
Industry Context
Executive stock transactions are a routine part of corporate governance and are closely watched by investors for insights into management's perspective on the company's performance and future prospects. The use of Rule 10b5-1 plans allows insiders to sell shares without raising concerns about insider trading, as these plans are established in advance.
Key Dates
| Date | Description |
|---|---|
| 08/05/2021 | Reporting Person was granted restricted stock units ('RSUs') for 2,562.000 shares of KLA common stock. |
| 08/05/2021 | Reporting Person was granted restricted stock units ('RSUs') for 3,203.000 shares of KLA common stock. |
| 08/04/2022 | Reporting Person was granted restricted stock units ('RSUs') for 2,384.000 shares of KLA common stock. |
| 08/03/2023 | Reporting Person was granted restricted stock units ('RSUs') for 1,695.000 shares of KLA common stock. |
| 02/02/2024 | Rule 10b5-1 trading plan adopted by the Reporting Person. |
| 08/02/2024 | 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. |
| 08/03/2024 | Twenty-five percent (25%) of the RSUs vested. |
| 08/04/2024 | Twenty-five percent (25%) of the RSUs vested. |
| 08/05/2024 | Twenty-five percent (25%) of the RSUs vested. |
| 08/05/2024 | 50% of the performance-based restricted stock units granted on August 5, 2021 vested. |
| 08/05/2024 | Shares of KLA common stock were sold at $649.84 and $675. |
| 08/06/2024 | Date of Form 4 filing. |
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