FormFactor Inc (FORM) CEO Slessor logs major RSU vesting and fresh 27,696-unit grant
Rhea-AI Filing Summary
FORMFACTOR INC CEO and director Mike Slessor reported equity award activity. 141,792 Performance-based Restricted Stock Units vested after the Compensation Committee determined performance goals for the 7/1/2023–6/30/2026 period were met, and were settled into an equal number of common shares, with 78,908 shares delivered or withheld for payment of tax liability. Additional Restricted Stock Units previously granted also settled into 5,908 common shares, with 3,288 shares delivered or withheld for payment of tax liability. Separately, Slessor received a new grant of 27,696 Restricted Stock Units on August 6, 2026, vesting in twelve quarterly installments from November 6, 2026 through August 6, 2029, subject to continued employment and existing change of control and severance provisions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 65,504 shares
Net Buy
8 txns
Insider
SLESSOR MIKE
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance-based Restricted Stock Units F1 | 141,792 | $0.00 | $0.00 |
| Exercise | Performance-based Restricted Stock Units F1 | 141,792 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F7, F6 | 5,908 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 141,792 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 78,908 | $117.39 | $9.26M |
| Exercise | Common Stock F3 | 5,908 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F4 | 3,288 | $117.39 | $386K |
| Grant/Award | Restricted Stock Units F5, F6 | 27,696 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 27,696 shares (Direct);
Performance-based Restricted Stock Units — 0 shares (Direct);
Common Stock — 500,206 shares (Direct)
Footnotes (7)
- F1. These Performance-based Restricted Stock Units were previously granted and became vested based on the achievement of certain performance criteria in the period 7/1/2023 - 6/30/2026. The Compensation Committee has determined that such performance criteria have been met.
- F2. Represents the number of shares withheld upon vesting and settlement of the Performance-based Restricted Stock Units to cover tax withholding obligations.
- F3. These shares of common stock reflect the settlement of restricted stock units of the Issuer. Each Restricted Stock Unit (RSU) is convertible into a share of common stock on a 1-for-1 basis.
- F4. Represents the number of shares withheld upon vesting of Restricted Stock Units to cover tax withholding obligations.
- F5. The Restricted Stock Units granted on August 6, 2026 vest in twelve (12) quarterly installments beginning on November 6, 2026 and end on August 6, 2029 and will be settled into shares of common stocks on or following the vesting date.
- F6. If the reporting person's employment is terminated for any reason before an applicable vesting date, all Restricted Stock Units that have not yet vested shall be forfeited without consideration, except as provided in the change of control severance agreement and any other agreements regarding equity vesting and exercisability between the reporting person and Issuer, which agreements or form agreements are filed with the SEC.
- F7. The Restricted Stock Units granted on August 7, 2023 vest in twelve (12) quarterly installments beginning on November 7, 2023 and ending on August 7, 2026 and will be settled into shares of common stock on or following the vesting dates.
Key Figures
Performance-based RSUs vested: 141,792 units
Shares delivered or withheld for tax liability (performance RSUs): 78,908 shares at $117.3900 per share
RSUs settled into common stock: 5,908 shares
+3 more
6 metrics
Performance-based RSUs vested
141,792 units
Performance criteria for 7/1/2023–6/30/2026 determined achieved; vested August 7, 2026
Shares delivered or withheld for tax liability (performance RSUs)
78,908 shares at $117.3900 per share
Common stock delivered or withheld upon vesting and settlement of Performance-based RSUs
RSUs settled into common stock
5,908 shares
Settlement of previously granted Restricted Stock Units on a 1-for-1 basis
Shares delivered or withheld for tax liability (time-based RSUs)
3,288 shares at $117.3900 per share
Common stock delivered or withheld upon vesting of Restricted Stock Units
New RSU grant
27,696 units
Restricted Stock Units granted August 6, 2026, vesting quarterly from November 6, 2026 to August 6, 2029
Derivative exercises reported
147,700 shares
Total underlying shares from derivative exercises (code M) in this filing
Key Terms
Performance-based Restricted Stock Units, Restricted Stock Units, tax withholding obligations, change of control severance agreement, +1 more
5 terms
Performance-based Restricted Stock Units financial
"These Performance-based Restricted Stock Units were previously granted and became vested based on the achievement"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
Restricted Stock Units financial
"The Restricted Stock Units granted on August 6, 2026 vest in twelve (12) quarterly installments"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents the number of shares withheld upon vesting and settlement of the Performance-based Restricted Stock Units to cover tax withholding obligations."
change of control severance agreement financial
"except as provided in the change of control severance agreement and any other agreements regarding equity vesting"
vest in twelve (12) quarterly installments financial
"The Restricted Stock Units granted on August 6, 2026 vest in twelve (12) quarterly installments"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did FORM (FORMFACTOR INC) CEO Mike Slessor report?
Mike Slessor reported vesting of 141,792 Performance-based RSUs and 5,908 RSU-based shares, plus a new grant of 27,696 Restricted Stock Units. These awards convert into common stock, subject to vesting schedules and continued employment conditions.
What performance period triggered Slessor’s Performance-based RSU vesting at FORM?
The Performance-based RSUs vested based on criteria achieved over 7/1/2023–6/30/2026. The Compensation Committee determined that the specified performance targets for that period were met, causing 141,792 units to vest and settle into common stock on August 7, 2026.
What are the vesting terms of the new 27,696 RSUs granted to FORM’s CEO?
The 27,696 Restricted Stock Units granted on August 6, 2026 vest in twelve quarterly installments starting November 6, 2026 and ending August 6, 2029. Unvested units are generally forfeited if employment ends, subject to existing severance and change of control agreements.
How are FORM (FORMFACTOR INC) RSUs settled for CEO Mike Slessor?
Each Restricted Stock Unit is convertible into one share of common stock upon vesting. Settlement into shares occurs on or following each vesting date, and a portion of the resulting shares may be delivered or withheld for payment of tax liability.