Form 4: KLA Corp Executive Vice President Brian Lorig Reports Stock Transactions
SEC Form 4
Executive Vice President Brian Lorig reports the vesting of restricted stock units and subsequent stock sales to cover tax obligations.
Summary
- Brian Lorig, an Executive Vice President at KLA Corp, reported several transactions involving KLA common stock.
- These transactions include the vesting of restricted stock units (RSUs) granted on August 3, 2023, August 4, 2022, and August 5, 2021.
- Shares were automatically withheld to cover tax obligations upon vesting.
- Lorig also sold 709 shares of KLA common stock at a price of $649.84 per share on August 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.
- Following these transactions, Lorig beneficially owns 19,998.09 shares of KLA common stock, including 14,702.955 shares issuable upon vesting of RSUs.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The use of Rule 10b5-1 trading plans is a common method for executives to sell shares while avoiding accusations of insider trading.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small number of shares involved relative to the company's total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 08/03/2023 | Reporting Person was granted restricted stock units ('RSUs') for 2,649.000 shares of KLA common stock |
| 08/04/2022 | Reporting Person was granted restricted stock units ('RSUs') for 2,980.000 shares of KLA common stock |
| 08/05/2021 | Reporting Person was granted restricted stock units ('RSUs') for 2,562.000 shares of KLA common stock |
| 02/02/2024 | Reporting Person adopted a Rule 10b5-1 trading plan |
| 08/02/2024 | Fair market value of KLA common stock used for tax withholding calculations |
| 08/03/2024 | 25% of RSUs granted on August 3, 2023 vested |
| 08/04/2024 | 25% of RSUs granted on August 4, 2022 vested |
| 08/05/2024 | 25% of RSUs granted on August 5, 2021 vested and 50% of performance-based restricted stock units granted on August 5, 2021 vested |
| 08/05/2024 | Sale of 709 shares of KLA common stock at $649.84 per share |
| 08/06/2024 | Date of Form 4 filing |
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