Form 4: Onto Innovation CEO Michael Plisinski Settles Performance Stock Units, Disposes Shares for Tax Obligations

Michael Plisinski, CEO of Onto Innovation Inc., settled performance stock units and disposed of shares to cover tax withholding obligations on February 14, 2025.

Summary

• On February 14, 2025, Michael Plisinski, the CEO of Onto Innovation Inc., settled 23,650 performance stock units (PSUs) which converted into shares of common stock.
• The PSUs were granted on February 14, 2023, and vested on February 14, 2025, because the performance criteria were met at 200% of the target.
• Plisinski disposed of 11,435 shares at $176.55 to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) or PSUs.
• An additional 3,812 shares were disposed of at $176.55 to satisfy tax obligations.
• Following these transactions, Plisinski directly owns 165,874 shares of Onto Innovation Inc. common stock.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices and tax obligations, with a positive element of performance targets being exceeded. It's a neutral event overall.

Positives

• The performance criteria for the PSUs were met at 200% of the target, indicating strong performance.

Future Outlook

There is no future outlook provided in this document.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

• Shareholders are informed about executive compensation and stock ownership changes.
• The transactions have a minor impact on the overall share supply.

Key Dates

Keywords

Onto Innovation Inc., Michael Plisinski, performance stock units, PSUs, stock settlement, Form 4, tax withholding, insider trading