Form 4: Universal Display Corp Executive Janice K. Mahon Reports Stock Transactions
SEC Form 4 Filing
Janice K. Mahon, SVP of Tech Commercialization at Universal Display Corp, reports acquisition and disposal of company stock related to vesting of restricted stock and performance units.
Summary
- On March 2, 2024, Janice K. Mahon had 1,253 shares of common stock withheld at $174.68 to cover tax liabilities from vesting of 2,704 restricted shares.
- Also on March 2, 2024, 2,028 performance unit shares were granted at $0 as part of 2021 compensation, vesting due to performance conditions certified on February 20, 2024.
- An additional 733 shares were withheld on March 2, 2024 at $174.68 to cover tax liabilities from the vesting of the 2,028 restricted shares.
- On March 4, 2024, 5,029 units were granted at $0 as part of 2024 compensation, vesting in thirds on March 4, 2025, 2026, and 2027.
- Following these transactions, Mahon directly owns 43,349 shares of Universal Display Corp common stock.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't contain overtly positive or negative information, but the granting of equity suggests a degree of confidence in the company's future performance.
Positives
- The granting of performance units and restricted stock indicates the company's commitment to incentivizing and retaining key personnel.
- The vesting of performance units suggests that the company has met certain performance targets set by the Human Capital Committee.
Future Outlook
The document outlines future vesting dates for units granted under the Long Term Incentive Plan, indicating ongoing equity-based compensation for the reporting person.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the equity ownership of company executives and their alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting changes in insider ownership.
- Employees may be impacted positively by the company meeting performance targets, leading to vesting of performance units.
Key Dates
| Date | Description |
|---|---|
| 02/20/2024 | Company's Human Capital Committee certified performance conditions for performance units as having occurred. |
| 03/02/2024 | Vesting date of restricted stock and performance units; tax liabilities satisfied through share withholding. |
| 03/04/2024 | Grant date of new units under the Long Term Incentive Plan. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
| 03/04/2025 | First vesting date for one-third of the units granted on March 4, 2024. |
| 03/04/2026 | Second vesting date for one-third of the units granted on March 4, 2024. |
| 03/04/2027 | Final vesting date for one-third of the units granted on March 4, 2024. |
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