Form 4: QuickLogic Corp Executive Timothy Saxe Reports Acquisition of Restricted Stock Units

Timothy Saxe, SR. VP AND CTO of QuickLogic Corp, reports the acquisition of 37,205 Restricted Stock Units (RSUs) on September 13, 2024.

Summary

• On September 13, 2024, Timothy Saxe, SR. VP AND CTO of QuickLogic Corp, acquired 37,205 Restricted Stock Units (RSUs).
• Each RSU represents a contingent right to receive one share of QuickLogic Corp's common stock.
• The RSUs vest 50% after one year and the remaining 50% after two years from the date of issuance, contingent upon continued employment.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The vesting schedule of the RSUs incentivizes continued employment of the executive.

Future Outlook

The vesting of the RSUs is contingent upon the continued employment of the grantee, suggesting an expectation of continued service.

Industry Context

This is a standard practice for compensating executives in publicly traded companies, aligning their interests with those of the shareholders.

Comparison to Industry Standards

• Granting restricted stock units (RSUs) to executives is a common practice among publicly traded companies, particularly in the technology sector.
• Companies like Xilinx (now AMD) and Intel have similar compensation structures that include RSUs vesting over a period of years to incentivize long-term commitment.
• The vesting schedule of 50% after one year and the remaining 50% after two years is fairly standard, aligning with typical industry practices for executive compensation.

Stakeholder Impact

• Shareholders may view this as a positive sign, aligning executive interests with company performance.
• Employees may see this as a standard compensation practice for executives.

Key Dates