Form 4: On Semiconductor Executive Simon Keeton Reports Changes in Beneficial Ownership

Group President Simon Keeton reports acquisition and disposal of On Semiconductor stock, including vesting of performance-based restricted stock units and shares withheld for taxes.

Summary

• Simon Keeton, Group President at On Semiconductor, filed a Form 4 detailing changes in beneficial ownership.
• On February 6, 2025, Keeton acquired 28,329 shares, 7,982 shares and 6,557 shares of common stock related to performance-based restricted stock units at $0.00.
• These units were earned based on the Issuer's performance as measured against the underlying metrics.
• On February 7, 2025, 12,358 shares were disposed of at $51.25 to cover taxes due upon the vesting of performance-based restricted stock units.
• Keeton's direct ownership after these transactions is 233,780 shares.
• The report also notes that Keeton acquired an additional 88 shares under the Issuer's Employee Stock Purchase Plan since his last Section 16 filing.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects routine transactions related to executive compensation. The vesting of performance-based units is a slightly positive signal, suggesting the company met certain performance goals.

Positives

• The vesting of performance-based restricted stock units suggests that On Semiconductor has met certain performance metrics.

Negatives

• The disposal of shares to cover taxes reduces Keeton's overall holdings, although this is a standard practice.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates activity related to previously granted stock awards.

Stakeholder Impact

• The vesting of stock units aligns executive interests with shareholder value.

Key Dates

Keywords

Form 4, Beneficial Ownership, On Semiconductor, Stock, Vesting, Restricted Stock Units, Keeton, Acquisition, Disposal