4/A: Photronics Director Mary Paladino Receives 7,548 Restricted Stock Units as Board Compensation

Director Mary Paladino received 7,548 restricted stock units of Photronics Inc. as part of her board compensation, vesting in four tranches between April 2025 and January 2026.

Summary

• Mary Paladino, a director of Photronics Inc. (PLAB), received 7,548 restricted stock units (RSUs) on February 13, 2025.
• This transaction was reported in an amended Form 4 filing on February 19, 2025, correcting a prior filing.
• The RSUs represent $170,000 of board compensation, calculated using a fair market value of $22.52 per share on the grant date.
• No consideration was paid by Paladino for the grant.
• The RSUs vest in four equal installments: 25% on April 4, 2025, 25% on July 4, 2025, 25% on October 3, 2025, and the final 25% on January 2, 2026.
• Following this transaction, Paladino beneficially owns 76,548 shares of Photronics Inc.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of director compensation, which is generally neutral to slightly positive as it aligns director interests with shareholders. The correction of a prior filing is a minor positive as it shows attention to detail.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and contribution to the company over time.

Industry Context

This type of equity compensation is common for directors of publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Director compensation packages typically include a mix of cash and equity.
• The size and structure of equity grants vary depending on the company's size, performance, and industry.
• Comparing Photronics' director compensation to that of similar companies in the semiconductor industry would provide a more complete picture of its competitiveness.
• Companies like Applied Materials (AMAT) and Lam Research (LRCX) are good comparables in the semiconductor equipment industry.

Stakeholder Impact

• Shareholders: The grant of RSUs aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and performance.
• Employees: The grant of RSUs to a director can be seen as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Photronics, PLAB, Director, Mary Paladino, Restricted Stock Units, RSU, Compensation, Beneficial Ownership, Form 4, SEC