Form 4: Director David A. Garcia Receives Photronics Stock Grant
Statement of Changes in Beneficial Ownership
Photronics Inc. director David A. Garcia was granted 3,722 restricted stock units under the 2025 Equity Incentive Plan.
Summary
- Director David A. Garcia acquired 3,722 shares of Photronics Inc. (PLAB) common stock via restricted stock units.
- The transaction occurred on April 13, 2026, at a price of $0 per share as part of an equity incentive grant.
- Following this transaction, the reporting person's total beneficial ownership increased to 15,192 shares.
- The units vest in four equal quarterly installments starting July 8, 2026, and concluding April 8, 2027.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation with no material impact on the company's financial outlook.
Positives
- Alignment of director interests with shareholders through equity-based compensation.
- Increase in total beneficial ownership by a member of the board.
Negatives
- None identified.
Risks
- Vesting of equity is subject to continued service as a director.
Future Outlook
The filing does not provide forward-looking financial guidance, focusing solely on director equity compensation.
Industry Context
StockSavvy.ai notes that equity grants to directors are standard corporate governance practices designed to incentivize long-term board commitment and align director performance with shareholder value in the semiconductor equipment and photomask industry.
Comparison to Industry Standards
- The grant of restricted stock units is consistent with standard executive and director compensation packages for mid-cap technology firms.
- The vesting schedule of one year is typical for annual director equity retainers.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Compensation | Grant of restricted stock units under the 2025 Equity Incentive Compensation Plan. | 04/13/2026 | Standard alignment of director compensation with company performance. |
Stakeholder Impact
- Shareholders: Minimal impact; reflects standard director compensation practices.
Next Steps
- Vesting of the first 25% of the grant on July 8, 2026.
Key Dates
| Date | Description |
|---|---|
| 04/13/2026 | Date of the restricted stock unit grant transaction. |
| 04/15/2026 | Date the Form 4 was filed with the SEC. |
| 07/08/2026 | First vesting date (25%) of the granted units. |
| 10/08/2026 | Second vesting date (25%) of the granted units. |
| 01/08/2027 | Third vesting date (25%) of the granted units. |
| 04/08/2027 | Final vesting date (25%) of the granted units. |
Keywords
Photronics, PLAB, Form 4, Insider Trading, Equity Incentive, Director Compensation
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