Amtech (ASYS) Insider Exercised Options; Large Kokino Indirect Stake Disclosed
Rhea-AI Filing Summary
Robert M. Averick, a director and 10% owner related to Kokino Family clients, reported multiple transactions in Amtech Systems Inc. (ASYS). The filing shows Mr. Averick (indirectly) is associated with 2,250,000 shares held by Kokino Family Clients, plus 500 shares in a custodial account and 11,000 shares held by his spouse. On 09/02/2025 he exercised four director options (each reported with code "M") to acquire 6,000 shares apiece at exercise prices of $5.40, $5.75, $4.77, and $4.90, increasing reported underlying positions. He also reports 8,081 restricted stock units and a total of 36,000, 30,000, 24,000 and 18,000 option-related holdings per option series.
Positive
- Exercises fully disclosed: Four director option exercises on 09/02/2025 with prices and amounts provided
- Large indirect stake disclosed: Kokino Family Clients reported to beneficially own 2,250,000 shares, improving transparency
Negative
- None.
Insights
TL;DR Insider exercised multiple director options on 09/02/2025, increasing his share exposure while significant holdings remain indirectly held via Kokino clients.
The Form 4 documents exercises of four director stock options on 09/02/2025 (reported with transaction code M) at exercise prices between $4.77 and $5.75 for 6,000 shares each, which increases Mr. Averick's direct/derivative exposure to ASYS equity. Material indirect holdings include 2,250,000 shares held by Kokino Family Clients, disclosed under a Schedule 13D. The filing is routine for insiders exercising options but noteworthy given the sizable indirect stake via investment vehicles managed by Kokino.
TL;DR Disclosure aligns with Section 16 reporting; exercises and wide-ranging indirect ownership are properly explained.
The filing clearly discloses the reporting person’s relationship to multiple investment entities and family accounts, and lists restricted stock units and option totals. It explains the indirect ownership through Piton and Kokino structures and potential linkage to incentive allocations. From a governance and compliance perspective the Form 4 appears complete and descriptive, showing both direct derivative activity and substantial indirect holdings that investors can trace to the Schedule 13D.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Director Stock Option (Right to Buy) | 6,000 | $0.00 | -- |
| Exercise | Director Stock Option (Right to Buy) | 6,000 | $0.00 | -- |
| Exercise | Director Stock Option (Right to Buy) | 6,000 | $0.00 | -- |
| Exercise | Director Stock Option (Right to Buy) | 6,000 | $0.00 | -- |
| Exercise | Common Stock | 6,000 | $5.40 | $32K |
| Exercise | Common Stock | 6,000 | $5.75 | $35K |
| Exercise | Common Stock | 6,000 | $4.77 | $29K |
| Exercise | Common Stock | 6,000 | $4.90 | $29K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Pursuant to a Schedule 13D filed on January 25, 2016, as amended (as further amended from time to time, the "Schedule 13D"), (i) Piton Capital Partners LLC ("Piton"), Cornice Fiduciary Management LLC (as trustee of the Trust (as defined in the Schedule 13D)) and M3C Holdings LLC (collectively, the "Kokino Family Clients"), (ii) Mr. Averick, and (iii) OIH LLC also report beneficial ownership of shares of the Issuer's $.01 par value common stock ("Common Shares"). Indicates 2,250,000 Common Shares beneficially owned by the Kokino Family Clients. Mr. Averick is a Portfolio Manager at Kokino LLC ("Kokino"). Mr. Averick manages the Kokino Family Clients' investment in the Issuer as a Portfolio Manager of Kokino. Mr. Averick holds an indirect interest in certain Common Shares through his minority ownership of Piton, which is a Kokino Family Client (which ownership may be held through Piton's managing member, Piton Capital Management LLC ("PCM")). Also, Mr. Averick's incentive compensation/allocation as an employee of Kokino and member of Piton, which are generally calculated in Kokino's discretion subject to Piton's and PCM's governing documents, may be based on the performance of Common Shares held by Kokino Family Clients. Such compensation/allocation may be paid or made in cash and/or by way of increasing Mr. Averick's interest in Piton (either directly or indirectly through PCM). Kokino is PCM's managing member. Indicates Common Shares held in a custodial account for the benefit of an immediate family member of Mr. Averick. Indicates Common Shares held by Mr. Averick's spouse. This is the total of all restricted stock units held by Mr. Averick as of the filing date of this Form 4. This is the total of all director stock options (right to buy), including those with different terms and conditions, held by Mr. Averick as of the filing date of this Form 4 (and after giving effect to the reported transactions).
