Form 4: ONTO Innovation VP Yoon Ah Oh Reports Stock Disposal for Tax Obligations

Yoon Ah Oh, VP, General Counsel & Corp Sec of ONTO Innovation Inc., reports disposing of 603 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• On May 15, 2024, Yoon Ah Oh, VP, General Counsel & Corp Sec of ONTO Innovation Inc., disposed of 603 shares of common stock.
• The transaction was executed to satisfy tax withholding obligations related to the vesting of restricted stock units or performance stock unit grants.
• The price per share was $233.63.
• Following the transaction, Yoon Ah Oh directly owns 14,310 shares of ONTO Innovation Inc. common stock.

Sentiment

Score: 5

Explanation: The document reports a routine transaction related to tax obligations, which is neither particularly positive nor negative.

Industry Context

This type of transaction is common for executives who receive stock-based compensation. Disposing of shares to cover tax obligations is a routine part of equity compensation plans.

Comparison to Industry Standards

• Similar transactions are regularly reported by executives at publicly traded companies like Apple, Microsoft, and Tesla as part of their compensation packages.
• These companies also use restricted stock units and performance stock units as part of their compensation strategy, leading to similar tax obligation-related disposals.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates