Form 4: SiTime Executive Lionel Bonnot Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Lionel Bonnot, an executive at SiTime Corp, reports changes in his beneficial ownership of the company's common stock due to the acquisition of restricted stock units.
Summary
- On February 10, 2025, Lionel Bonnot, Executive Vice President at SiTime Corp, reported changes in his beneficial ownership of SiTime common stock.
- Bonnot acquired 2,982 shares of common stock through a restricted stock unit award under the Executive Bonus and Retention Plan, vesting in two tranches on May 20, 2025, and August 20, 2025.
- He also acquired 4,276 additional shares due to the achievement of performance criteria for performance-based restricted stock units (PRSUs) initially granted on February 21, 2023, with 50% vesting on February 20, 2025, and the remainder on February 20, 2026.
- An additional 5,874 shares were acquired through a restricted stock unit award vesting quarterly starting February 20, 2025.
- Another 5,874 shares were acquired through performance-based restricted stock units that vest upon achievement of certain levels of relative total stockholder return over a three-year performance period.
- Following these transactions, Bonnot beneficially owns 95,042 shares of SiTime common stock, including 91,937 unvested shares of common stock issuable pursuant to previously reported restricted stock units and performance-based restricted stock units.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but the acquisition of shares by an executive could be interpreted as a mildly positive signal.
Positives
- The acquisition of shares by an executive could be seen as a positive sign, indicating confidence in the company's future performance.
Future Outlook
The document does not contain specific forward-looking statements about the company's financial performance, but it does detail the vesting schedules for various stock awards, which could incentivize future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, which is common in publicly traded companies. It provides transparency into the alignment of executive interests with those of shareholders.
Stakeholder Impact
- The changes in beneficial ownership may be of interest to shareholders as it provides insight into executive compensation and alignment of interests.
Key Dates
| Date | Description |
|---|---|
| February 21, 2023 | Initial grant date of performance-based restricted stock units (PRSUs). |
| February 20, 2025 | Vesting date for 50% of PRSUs granted on February 21, 2023. |
| February 10, 2025 | Date of the reported transactions. |
| February 20, 2026 | Vesting date for the remaining 50% of PRSUs granted on February 21, 2023. |
| May 20, 2025 | Vesting date for 50% of the shares from the restricted stock unit award under the Executive Bonus and Retention Plan. |
| August 20, 2025 | Vesting date for 50% of the shares from the restricted stock unit award under the Executive Bonus and Retention Plan. |
| February 12, 2025 | Date of signature by Attorney-in-fact. |
Keywords
beneficial ownership, Form 4, SiTime, stock units, restricted stock, executive compensation, insider trading
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