Porshnev Peter 4

What Happened

• Peter Porshnev, Chief Technology Officer of Veeco (VECO), converted 26,910 performance-based restricted stock units (PRSUs) into common shares on March 20, 2026 (reported as an "exercise/conversion", $0 exercise price). To cover tax withholding, 11,397 of those shares were surrendered to Veeco at $31.00 each (total value $353,307). Separately on March 20 he purchased 593 shares through Veeco’s Employee Stock Purchase Plan (ESPP) at $25.96 each for $15,394. Net across these actions he received 26,910 + 593 − 11,397 = 16,106 net new shares.

Key Details

• Transaction date: March 20, 2026; Form filed March 24, 2026 (timely file).
• Conversion: 26,910 PRSUs converted to common stock; recorded at $0.00 exercise price.
• Tax withholding: 11,397 shares surrendered to satisfy tax withholding at $31.00/share (F2) = $353,307.
• ESPP purchase: 593 shares bought at $25.96/share = $15,394 (F3).
• Shares owned after transaction: not disclosed in the information provided.
• Notable footnotes: F1 explains the PRSUs were awarded in March 2023 and vested at 172.5% of the original grant (15,600 × 172.5% = 26,910). F2 = shares surrendered for taxes; F3 = ESPP purchase.

Context

• This was primarily a conversion/vesting event (performance RSUs achieved their performance target), not an open-market sale of vested shares. The surrender of shares to cover taxes is routine and does not by itself indicate buying/selling sentiment. The small ESPP purchase is a separate, modest buy and is commonly part of employee benefit plans.