Form 4: Universal Display Corp Executive Mauro Premutico Reports Stock Transactions
SEC Form 4 Filing
Mauro Premutico, SVP & CLO of Universal Display Corporation, reports the acquisition and disposal of common stock related to vesting of performance units and tax liability satisfaction.
Summary
- On March 7, 2024, Mauro Premutico, SVP & CLO of Universal Display Corporation, reported transactions involving the company's common stock.
- He acquired 1,259 shares as performance units under the company's Long Term Incentive Plan, which vested on March 7, 2024.
- 697 shares were disposed of to cover tax liabilities related to the vesting of 1,259 shares of restricted stock.
- An additional 1,438 shares were withheld to satisfy tax liabilities associated with the vesting of 2,597 shares of restricted stock.
- Following these transactions, Premutico directly owns 36,879 shares of Universal Display Corporation common stock.
Sentiment
Score: 6
Explanation: The document is a routine filing related to executive stock transactions. The vesting of performance units is a slightly positive signal, but overall the document is neutral.
Positives
- The vesting of performance units indicates that performance conditions were met, as certified by the Company's Human Capital Committee.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The vesting of performance units suggests the company is meeting its performance goals.
Stakeholder Impact
- The vesting of performance units and subsequent stock transactions have a minor impact on shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date of earliest transaction, vesting of performance units, and stock disposal for tax liabilities. |
| 03/11/2024 | Date of signature on the Form 4 filing. |
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