Form 4: Photronics EVP, CFO Eric Rivera Receives Stock Grant

Eric Rivera, EVP and CFO of Photronics, Inc., received a grant of 25,000 shares of restricted stock on October 1, 2024, which will vest over four years.

Summary

• Eric Rivera, the EVP and CFO of Photronics, Inc., filed a Form 4 on October 3, 2024, reporting a transaction on October 1, 2024.
• The transaction involved the acquisition of 25,000 shares of common stock through a grant of restricted stock under the company's 2016 Equity Incentive Compensation Plan.
• The stock was granted at a price of $0.
• 25% of the granted shares will vest annually over four years, contingent upon continued employment.
• Following the transaction, Rivera beneficially owns 67,675 shares of Photronics common stock.
• Rivera has granted Brandon DeSocio power of attorney to execute and file Forms 3, 4, and 5 on his behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The stock grant is a positive sign of aligning executive interests with the company's long-term success. It's a routine transaction, so not overly impactful.

Positives

• The grant of restricted stock aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued employment and commitment from the executive.

Future Outlook

The restricted stock grant vests over four years, suggesting an expectation of continued employment and contribution from the executive.

Industry Context

Stock grants are a common form of executive compensation in the technology industry, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages, including stock grants, vary significantly across the semiconductor and photomask industries.
• Companies like Applied Materials, ASML, and KLA Corporation also utilize stock grants as part of their executive compensation plans.
• The size and vesting schedule of the grant would need to be compared to similar roles at comparable companies to assess its competitiveness.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns executive interests with company performance.
• Employees may see it as a positive sign of the company investing in its leadership.

Key Dates