Form 4: Xometry CFO James Miln Receives Stock Grants
SEC Form 4 Filing
James Miln, CFO of Xometry, Inc., reports the acquisition of restricted stock units.
Summary
- On March 14, 2024, James Miln, the CFO of Xometry, Inc., acquired 35,905 Class A Common Stock units and 71,810 Class A Common Stock units, both as restricted stock unit (RSU) grants.
- The first RSU grant of 35,905 shares vests quarterly, starting January 1, 2025, over three years.
- The second RSU grant of 71,810 shares vests in three tranches: 60% on March 1, 2025, 30% on March 1, 2026, and the remaining 10% on March 1, 2027.
- These grants are subject to Miln's continuous service with the company.
- Following these transactions, Miln directly owns 107,715 shares of Class A Common Stock.
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 RSU grants align the CFO's interests with the long-term performance of the company.
- The vesting schedules encourage continued service and commitment from the CFO.
Future Outlook
The document outlines the vesting schedule for the RSU grants, indicating future equity ownership for the CFO contingent on continued service.
Industry Context
Stock grants are a common practice in the tech industry to incentivize and retain key executives. This grant aligns with standard compensation practices.
Comparison to Industry Standards
- Stock grants are a common component of executive compensation packages in publicly traded companies, particularly in the technology sector.
- Companies like Amazon, Google, and Microsoft also use stock-based compensation to align executive interests with shareholder value.
- The vesting schedules described are fairly standard, with vesting periods typically ranging from three to four years.
Stakeholder Impact
- The RSU grants align the CFO's interests with those of the shareholders, potentially driving long-term value creation.
- Employees may view the grant as a positive sign of the company's commitment to its leadership.
Next Steps
- The CFO will continue to vest in the granted RSUs according to the specified schedule, contingent on continued service with the company.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of Power of Attorney execution. |
| 03/14/2024 | Date of the reported transactions (RSU grants). |
| 03/18/2024 | Date of signature for the Form 4 filing. |
| 01/01/2025 | First vesting date for one of the RSU grants (quarterly vesting thereafter). |
| 03/01/2025 | First vesting date for the second RSU grant (60% vests). |
| 03/01/2026 | Second vesting date for the second RSU grant (30% vests). |
| 03/01/2027 | Final vesting date for the second RSU grant (10% vests). |
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