Miller William John 4
4 · VEECO INSTRUMENTS INC · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Veeco CEO William Miller Receives 140,157 Shares (Tax Withholding)
What Happened
William (Bill) Miller, Veeco Instruments CEO and director, received 140,157 shares on March 20, 2026 as the result of a performance-based restricted stock unit (PRSU) award vesting (conversion of a derivative). To satisfy tax withholding on the vesting, he surrendered 61,053 of those shares at an effective price of $31.00 each, generating proceeds of $1,892,643. Net shares retained from the vesting: 79,104.
Key Details
- Transaction dates: March 20, 2026 (reported on Form 4 filed March 24, 2026). Filing appears timely.
- Acquired: 140,157 shares via conversion/vesting (transaction code M) at $0.00 (award).
- Disposed: 61,053 shares surrendered to company for tax withholding (transaction code F) at $31.00 = $1,892,643.
- Net new shares kept by insider: 79,104 (140,157 – 61,053).
- Shares owned after transaction: Not specified in this filing.
- Footnotes: The PRSUs were granted March 13, 2023 (81,250 PRSUs) and vested at 172.5% of target based on three-year TSR performance versus the Russell 2000, producing the 140,157-share award; surrendered shares were to satisfy tax withholding.
Context
This was a performance-based award vesting, not an open-market purchase or voluntary sale. Surrendering shares to cover tax obligations is routine following vesting and does not necessarily signal a change in insider confidence. For retail investors, purchases or open-market sales by insiders may carry more direct sentiment signals; vested awards mainly reflect prior compensation and achieved performance metrics.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20+140,157→ 748,623 total - Tax Payment
Common Stock
[F2]2026-03-20$31.00/sh−61,053$1,892,643→ 687,570 total
Footnotes (2)
- [F1]On March 13, 2023, the reporting person was granted the contingent right to receive 81,250 performance-based restricted stock units ("PRSUs"). This contingent right was subject to the reporting person's continued service with the Company and the achievement of three-year performance criteria, which was based on the Company's total shareholder return relative to other companies in the Russell 2000 as specified in the award agreement (the "Criteria"). Each PRSU represented the contingent right to receive one share of Veeco common stock. The award, if earned, could range from 50% to 200% of the granted PRSUs based on the achievement of the Criteria. The common stock award reflected in this filing represents achievement at the 172.5% level, which was realized.
- [F2]Represents securities surrendered to Veeco to satisfy tax withholding obligations due upon the vesting of restricted stock.