Low Russell 4

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.