Form 4: Photronics EVP Christopher J. Progler Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Christopher J. Progler, EVP and Chief Technology Officer of Photronics Inc., reports the withholding of shares to cover tax liabilities and the acquisition of restricted stock awards.
Summary
- Christopher J. Progler, an executive at Photronics Inc. (PLAB), filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
- On January 2, 2025, 3,786 shares were withheld at a price of $24.01 to cover tax liabilities related to restricted stock awards granted on January 2, 2021.
- On January 3, 2025, 3,935 shares were withheld at a price of $24.12 to cover tax liabilities related to restricted stock awards granted on January 3, 2022.
- Also on January 3, 2025, 4,919 shares were withheld at a price of $24.12 to cover tax liabilities related to restricted stock awards granted on January 3, 2023.
- Additionally on January 3, 2025, 3,935 shares were withheld at a price of $24.12 to cover tax liabilities related to restricted stock awards granted on January 3, 2024.
- On the same day, January 3, 2025, Progler acquired 28,000 shares of restricted stock at $0.
- Following these transactions, Progler directly owns 230,591 shares of Photronics Inc.
- The filing was signed by Brandon DeSocio, attorney-in-fact for Christopher J. Progler, on January 6, 2025.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to executive compensation. There are no explicit positive or negative implications for the company's performance.
Positives
- The acquisition of 28,000 restricted shares indicates continued alignment with the company's long-term success.
Future Outlook
The restricted stock awards vest over four years, suggesting a continued long-term commitment by the executive.
Industry Context
Form 4 filings are routine disclosures for corporate insiders and provide transparency into their trading activities. This filing indicates standard compensation practices.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 01/02/2021 | Date of original Restricted Stock Awards associated with tax liabilities. |
| 01/03/2022 | Date of original Restricted Stock Awards associated with tax liabilities. |
| 01/03/2023 | Date of original Restricted Stock Awards associated with tax liabilities. |
| 01/03/2024 | Date of original Restricted Stock Awards associated with tax liabilities. |
| 01/02/2025 | Date of transaction: Shares withheld for tax liabilities. |
| 01/03/2025 | Date of transaction: Shares withheld for tax liabilities and acquisition of restricted stock. |
| 01/06/2025 | Date of filing. |
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