Low Russell 4
4 · AXCELIS TECHNOLOGIES INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Axcelis (ACLS) CEO Russell Low Forfeits 5,227 Shares for Taxes
What Happened
Russell Low, President & CEO and a director of Axcelis Technologies (ACLS), had 5,227 shares forfeited on March 2, 2026 to satisfy his tax withholding obligation arising from the vesting of 2024 performance-based restricted stock units (PRSUs). The shares were valued at $86.58 each (closing price on Mar 2, 2026), for a total withholding value of $452,554. This was a tax-withholding/forfeiture transaction (transaction code F), not an open-market sale.
Key Details
- Transaction date and type: Mar 2, 2026 — forfeiture of 5,227 shares for tax withholding (F).
- Price used: $86.58 per share (closing price on Mar 2, 2026). Total value ≈ $452,554.
- Vesting background: These shares relate to 2024 PRSUs granted in May 2024; 150% of the target award was ultimately earned. Half of the earned shares vested Feb 28, 2025 and the other half vested Feb 28, 2026.
- Post-vesting holdings note: Of the shares held after vesting, 79,638 were issuable on vesting of restricted stock units granted under the 2012 Equity Incentive Plan and remain subject to forfeiture.
- Timeliness: Form 4 filed Mar 3, 2026 for a Mar 2, 2026 withholding — within the standard reporting window (timely).
Context
This was a routine tax-withholding transaction associated with the vesting of PRSUs (a cashless withholding method), not a discretionary market sale or purchase. Such forfeitures are common when companies reduce issued shares to cover an insider’s tax liability on vested equity and do not by themselves indicate the insider’s view of the stock.
Insider Transaction Report
- Tax Payment
Common Stock
[F2][F1][F3]2026-03-02$86.58/sh−5,227$452,554→ 130,928 total
Footnotes (3)
- [F1]This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2026 of performance-based restricted stock units ("2024 PRSUs") granted to the executive in May 2024. Of the 2024 PRSUs granted, 150% were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 13, 2025, with half of the earned shares vesting on February 28, 2025 and the remaining half of the earned shares vesting on February 28, 2026. The shares issued to the executive on the vesting were reduced by a number of shares having a value equal to the executive's tax withholding obligation with respect to the vested 2024 PRSUs.
- [F2]Represents the closing price of the Company's common stock on March 2, 2026, the date of the tax withholding.
- [F3]Of the shares held after the vesting of the remaining 2024 PRSUs, 79,638 were issuable on vesting of restricted stock units granted to the reporting person under the 2012 Equity Incentive Plan and are subject to forfeiture.