4/A: Neuronetics Executive Corrects Vesting Details in Amended SEC Filing
SEC Filing (Form 4/A)
William Andrew Macan, an executive at Neuronetics, filed an amendment to a previous SEC Form 4 to correct the vesting dates and threshold achievement percentage of a performance restricted stock unit award.
Summary
- William Andrew Macan, an executive at Neuronetics, filed an amended SEC Form 4 to correct information regarding a performance restricted stock unit (PRSU) award.
- The original filing on February 26, 2025, incorrectly stated the vesting dates as December 31, 2027, 2026, and 2027, when they should have been December 31, 2025, 2026, and 2027.
- The amendment also corrects the threshold achievement percentage for the year-end cash balance, changing it from 80% to 90% of the target for each vesting year.
- The PRSU award, granted on February 24, 2025, involves 78,750 shares of common stock.
- The reporting person directly owns 78,750 derivative securities.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing, indicating a neutral event. The correction itself doesn't suggest any underlying issues with the company's performance or outlook.
Negatives
- The original SEC filing contained incorrect information regarding the vesting dates and threshold achievement percentage of a PRSU award.
Industry Context
This filing is a routine disclosure related to executive compensation and is specific to Neuronetics. It doesn't provide broad insights into the medical device industry or competitive landscape.
Stakeholder Impact
- The correction of the vesting dates and threshold achievement percentage ensures accurate information is available to stakeholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/24/2025 | Date of earliest transaction (PRSU award granted) |
| 02/26/2025 | Date of original Form 4 filing (incorrect information) |
| 03/13/2025 | Date of amended Form 4/A filing (corrected information) |
| 12/31/2025 | First corrected vesting date for PRSU award (1/3 tranche) |
| 12/31/2026 | Second corrected vesting date for PRSU award (1/3 tranche) |
| 12/31/2027 | Third corrected vesting date for PRSU award (1/3 tranche) |
| 07/01/2028 | Expiration date |
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