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AXCELIS TECHNOLOGIES INC·4

May 19, 5:05 PM ET

Blumenstock Gerald M 4

Research Summary

AI-generated summary

Updated

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.