Form 4: Micron Technology Executive Scott R. Allen Reports Stock Transactions
SEC Form 4 Filing
Micron Technology's Chief Accounting Officer, Scott R. Allen, reported the vesting of restricted stock units and the subsequent withholding of shares to cover tax obligations.
Summary
- Scott R. Allen, Chief Accounting Officer at Micron Technology, reported transactions involving the company's stock on January 19, 2025.
- These transactions included the vesting of 269 restricted stock units and the subsequent withholding of 137 shares to cover tax obligations.
- Following these transactions, Allen directly owns 53,659 shares of Micron Technology common stock.
- The restricted stock units vest quarterly, with 25% vesting on January 19, 2023, and 6.25% vesting quarterly thereafter.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any unusual or concerning activity. The sentiment is neutral to slightly positive as it shows the executive is receiving their compensation.
Industry Context
This is a routine filing related to executive compensation and is typical for publicly traded companies. It reflects the standard practice of granting and vesting restricted stock units as part of executive compensation packages.
Comparison to Industry Standards
- The vesting schedule of 25% initially and then 6.25% quarterly is a common practice for technology companies like Micron, similar to companies such as Intel and Samsung.
- The use of restricted stock units as part of executive compensation is a standard practice across the technology sector, aligning with industry norms for attracting and retaining talent.
- The tax withholding process is also standard, ensuring compliance with tax regulations and is similar to what is seen in other public companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they are related to executive compensation and do not significantly alter the company's financial position.
- The transactions are part of the compensation package for the executive and are not expected to impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/19/2023 | 25% of the restricted stock units vested. |
| 01/19/2025 | Restricted stock units vested and shares were withheld for tax obligations. |
| 01/21/2025 | Date of signature for the Form 4 filing. |
Keywords
Micron Technology, stock transaction, restricted stock units, insider trading, Form 4, vesting, tax withholding, equity compensation
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