4/A: Photronics Director Tyson Corrects Stock Unit Details in Amended SEC Filing

Mitchell G. Tyson, a director at Photronics, filed an amended Form 4 with the SEC to correct details regarding restricted stock units received as board compensation.

Summary

• Mitchell G. Tyson, a director at Photronics Inc. (PLAB), filed an amended Form 4 with the SEC on February 19, 2025.
• The amendment corrects details regarding a transaction on February 13, 2025, where Tyson acquired 7,548 shares of common stock in the form of restricted stock units.
• The restricted stock units represent $170,000 of board compensation, calculated using a fair market value of $22.52 per share on the grant date.
• The units 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 the reported transaction, Tyson beneficially owns 73,927 shares of Photronics common stock.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting previously reported information. It doesn't contain any significantly positive or negative news, but the correction itself is a positive sign of transparency and attention to detail.

Positives

• The filing provides transparency regarding director compensation in the form of restricted stock units.
• The vesting schedule is clearly defined, outlining the timeline for Tyson to receive the full benefit of the units.

Industry Context

This filing is a routine disclosure related to executive compensation, common in publicly traded companies. It provides transparency to investors regarding how directors are compensated and incentivized.

Comparison to Industry Standards

• Executive compensation packages, including restricted stock units, are a common practice among publicly traded companies like Photronics.
• Companies such as Applied Materials (AMAT) and Lam Research (LRCX), which operate in similar industries, also utilize stock-based compensation to align executive interests with shareholder value.
• The vesting schedule of the restricted stock units is fairly standard, with quarterly vesting over a one-year period.

Stakeholder Impact

• Shareholders benefit from the increased transparency regarding executive compensation.
• The corrected filing ensures accurate information is available to investors.

Key Dates

Keywords

Photronics, Director, SEC Filing, Form 4, Restricted Stock Units, Compensation, PLAB, Amendment