Blumenstock Gerald M 4
4 · AXCELIS TECHNOLOGIES INC · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Axcelis (ACLS) EVP Gerald Blumenstock Receives Award, Sells Shares
What Happened
- Gerald M. Blumenstock, EVP, Research, Development & Engineering at Axcelis (ACLS), was granted two awards of restricted stock units (RSUs) totaling 5,450 shares (2,725 + 2,725) on May 15, 2026. One grant is service-vesting RSUs (vesting one‑third each year 2027–2029) and the other is performance-based RSUs (performance measured Jan 1, 2026–Dec 31, 2028; earned shares vest in 2029).
- To satisfy tax withholding on vested RSUs, 744 shares and 345 shares were forfeited/surrendered (total 1,089 shares) at the closing price of $155.18, generating proceeds/value of $115,454 and $53,537 respectively (combined $168,991). These disposals are recorded as tax withholding (code F).
Key Details
- Transaction dates: May 15, 2026 (grants and tax-withholding/forfeiture). Filing date: May 19, 2026 (filed late).
- Grant details: 2,725 RSUs (service vesting — 1/3 each year 2027–2029) and 2,725 RSUs (performance-based, 0–200% payout; measured 2026–2028; vest on measurement in 2029).
- Tax withholding/disposals: 744 shares @ $155.18 = $115,454; 345 shares @ $155.18 = $53,537; total forfeited/surrendered = 1,089 shares / $168,991.
- Shares subject to forfeiture: footnotes indicate portions of Blumenstock’s holdings remain issuable on vesting and subject to forfeiture (examples cited in the filing: 20,018; 22,743; 21,206; 20,493 shares for different grants/vestings).
- Filing timeliness: The Form 4 was filed four days after the reported transactions (filed May 19 for May 15 transactions) — this appears late relative to the two-business-day Form 4 reporting requirement.
Context
- These transactions are award grants (code A) and tax-withholding forfeitures (code F). The forfeited/surrendered shares were used solely to satisfy the executive’s tax withholding obligations on vested RSUs (not an open-market sale for cash/profit-taking).
- Performance RSUs can pay out between 0% and 200% depending on relative total shareholder return over the stated performance period; earned amounts will vest only after performance is measured.
Insider Transaction Report
Form 4
Blumenstock Gerald M
EVP, Research, Dev. & Eng.
Transactions
- Award
Common Stock
[F1][F2]2026-05-15+2,725→ 20,018 total - Award
Common Stock
[F3][F4]2026-05-15+2,725→ 22,743 total - Tax Payment
Common Stock
[F6][F5][F7]2026-05-15$155.18/sh−744$115,454→ 21,999 total - Tax Payment
Common Stock
[F6][F8][F9]2026-05-15$155.18/sh−345$53,537→ 21,654 total
Footnotes (9)
- [F1]These shares are issuable on vesting of restricted stock units granted under the Company's 2012 Equity Incentive Plan on May 15, 2026. Assuming continuation of employment, these restricted stock units will vest as to one-third of the shares granted on each of May 15, 2027, May 15, 2028, and May 15, 2029.
- [F2]Of the shares held following this grant on May 15, 2026, 20,018 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.
- [F3]These shares are issuable on vesting of restricted stock units granted under the Company's 2012 Equity Incentive Plan on May 15, 2026. In this grant, the executive may earn shares of common stock, ranging from zero to 200% of the granted units. The shares are earned based on the achievement of performance goals based on relative total shareholder return over a performance period of January 1, 2026 to December 31, 2028. Assuming continuation of employment, 100% of the earned shares will vest on measurement of performance in 2029. Unearned restricted stock units will forfeit at such time.
- [F4]Of the shares held after this grant on May 15, 2026, 22,743 shares were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.
- [F5]This forfeiture of shares for tax withholding purposes relates to the vesting on May 15, 2026 of service vesting restricted stock units granted to the executive in May 2025. 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 restricted stock units.
- [F6]Represents the closing price of the common stock on the date of the tax withholding.
- [F7]Of the shares held after this vesting event on May 15, 2026, 21,206 shares were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.
- [F8]This forfeiture of shares for tax withholding purposes relates to the vesting on May 15, 2026 of service vesting restricted stock units granted to the executive in May 2024. 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 restricted stock units.
- [F9]Of the shares held after this vesting event on May 15, 2026, 20,493 shares were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.
Signature
/s/ Eileen J. Evans, Attorney-in-Fact|2026-05-19