CLS Insider Filing: Michael Max Wilson Reports 5,890-Share Acquisition and RSU Vesting
Rhea-AI Filing Summary
Michael Max Wilson, a director of Celestica Inc. (CLS), reported multiple awards and acquisitions on 06/30/2025. The Form 4 shows a direct acquisition of 5,890 common shares (transaction code M) at $0, increasing his direct beneficial ownership to 13,391 shares. The filing also reports vesting/awards of restricted share units (RSUs) totaling 5,890 RSUs across grants from 2022–2024 and 671 director share units granted/recorded, with underlying common-share equivalents and post-transaction holdings listed for each tranche.
The RSU grants are subject to time-based vesting schedules (one-third annually) as described for grants dated June 30 of 2022, 2023 and 2024. The Form 4 was signed by an attorney-in-fact, Tracy Connelly McGilley, on 07/01/2025.
Positive
- Director acquisition reported: direct acquisition of 5,890 common shares on 06/30/2025 increasing holdings to 13,391 shares
- Clear award schedules: RSU grants from 2022 (9,448 RSUs), 2023 (6,437 RSUs) and 2024 (1,787 RSUs) with one-third annual vesting disclosed
- Director share units disclosed: 671 director share units recorded with conversion to common-share equivalents upon cessation of service
- Form properly executed: Filing signed by attorney-in-fact Tracy Connelly McGilley on 07/01/2025
Negative
- None.
Insights
TL;DR: Director reported time-based RSU vesting and a direct acquisition of 5,890 shares, modestly increasing his stake.
The filing documents a direct acquisition (code M) of 5,890 common shares and the recognition/vesting of RSUs and director share units that convert to common-share equivalents. Holdings after the reported transactions are detailed by tranche, with total direct beneficial ownership reported as 13,391 common shares. This is a routine insider reporting of compensation-related equity and an acquisition event; the filing does not disclose purchase price (reported as $0 for RSUs and director units) beyond the share count, nor any sales or derivative positions.
TL;DR: Disclosure aligns with standard director equity compensation and Section 16 reporting practices.
The statement clarifies the nature of each instrument: time-vested RSUs from grants on June 30 of 2022, 2023 and 2024 (vesting one-third annually) and director share units payable upon cessation of service. The form is properly executed by an attorney-in-fact. There are no indications of unusual derivative instruments or dispositions in this filing; it is a routine compliance disclosure of equity awards and a beneficial acquisition.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 3,149 | $0.00 | -- |
| Exercise | Restricted Share Units | 2,145 | $0.00 | -- |
| Exercise | Restricted Share Units | 596 | $0.00 | -- |
| Grant/Award | Director Share Units | 671 | $0.00 | -- |
| Exercise | Common Shares | 5,890 | $0.00 | -- |
Footnotes (1)
- Each restricted share unit ("RSU") represents a contingent right to receive one common share or an equivalent value in cash at the holder's election. On June 30, 2022, the reporting person was granted 9,448 RSUs, 1/3 of which vest annually over 3 years on the anniversary of the grant date. On June 30, 2023, the reporting person was granted 6,437 RSUs, 1/3 of which vest annually over 3 years on the anniversary of the grant date. On June 30, 2024, the reporting person was granted 1,787 RSUs, 1/3 of which vest annually over 3 years on the anniversary of the grant date. Each director share unit represents a contingent right to receive one common share or an equivalent value in cash at the Issuer's discretion when the holder ceases to serve the Issuer as any of a director, consultant or other service provider.
