Form 4: Vishay Exec Chairman Zandman's Stock Transactions

Vishay Intertechnology's Executive Chairman, Marc Zandman, reported transactions including the withholding of shares for tax and the acquisition of phantom stock units.

Summary

• Marc Zandman, Executive Chairman and Chief Business Development Officer of Vishay Intertechnology Inc. (VSH), reported recent transactions.
• On January 2, 2026, 18,555 shares of common stock were disposed of at a price of $14.49 per share to cover tax liabilities related to the vesting of restricted stock units.
• Following this transaction, Zandman directly beneficially owns 57,913 shares of common stock.
• On January 1, 2026, Zandman acquired 5,000 Phantom Stock Units, which are the economic equivalent of one share of common stock each.
• The common stock underlying these phantom units will not be received until the termination of employment.
• Total beneficially owned derivative securities (Phantom Stock Units) are 140,991, which includes additional units granted as dividend equivalents.

Sentiment

Score: 6

Explanation: The filing reports routine insider transactions, including the acquisition of phantom stock units, which aligns executive interests with long-term company performance, and the withholding of shares for tax purposes, which is a common practice upon RSU vesting.

Positives

• Acquisition of 5,000 Phantom Stock Units indicates continued alignment of management's interests with shareholders, as these units vest upon termination of employment.
• The total number of beneficially owned derivative securities (Phantom Stock Units) increased to 140,991, reflecting additional units from dividend equivalents.

Negatives

• Disposal of 18,555 shares of common stock, valued at $14.49 per share, to cover tax liabilities reduces direct common stock ownership.

Future Outlook

The phantom stock units are not received until termination of employment, indicating a long-term retention mechanism for the executive.

Industry Context

This is an insider transaction report, reflecting executive compensation practices rather than broader industry trends.

Related Party Transactions

• The reported transactions are between the executive and the company, which are standard for executive compensation and tax-related share withholdings.

Stakeholder Impact

• Shareholders: The transactions reflect standard executive compensation and tax practices. The acquisition of phantom stock units aligns executive interests with long-term shareholder value. The sale of shares for tax purposes is a common event and not indicative of a lack of confidence.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation and tax obligations. The acquisition of phantom stock units aligns the executive's long-term interests with the company, while the sale of shares for tax withholding is a common, non-discretionary event. There are no new fundamental insights into the company's operational or financial performance that would warrant a change in investment recommendation based solely on this filing. Therefore, a "hold" recommendation is appropriate, maintaining current positions while awaiting more substantive company updates.

Keywords

Vishay Intertechnology, VSH, Marc Zandman, SEC Form 4, Insider Trading, Stock Transaction, Phantom Stock Units, Restricted Stock Units, Executive Compensation