inTEST (INTT) CFO receives new stock and option awards in Form 4
Rhea-AI Filing Summary
inTEST Corp CFO Duncan Gilmour reported equity compensation awards, not open-market trading. He received an employee stock option for 9,736 shares of common stock at an exercise price of $14.47 per share, expiring in 2036, which will vest in four equal annual installments starting March 16, 2027.
He was also granted 5,760 time-based restricted shares that vest in four equal annual installments beginning on March 16, 2027, plus 5,760 performance-based restricted shares that may vest in March 2029 if specified performance goals are met, with a maximum of 8,640 shares eligible to vest at peak performance.
Following these awards, Gilmour holds 67,954 shares of common stock directly and 200 shares indirectly through his spouse, along with multiple previously granted stock options with exercise prices between $7.74 and $16.80 expiring from 2031 through 2035.
Positive
- None.
Negative
- None.
Insights
Routine equity awards increase the CFO’s long-term stock and option exposure.
The filing shows CFO Duncan Gilmour receiving stock options and restricted shares as part of inTEST’s 2023 Stock Incentive Plan. These awards vest over several years and are granted at no cash cost to him on the grant date.
The package combines time-based restricted stock, performance-based restricted stock, and a stock option at an exercise price of $14.47 per share, expiring in 2036. Vesting schedules stretching to 2029 are designed to align compensation with both service and future performance outcomes.
The transactions do not involve any share sales or exercises, and he retains substantial existing option positions with exercise prices between $7.74 and $16.80, expiring from 2031 through 2035. Overall, this appears to be routine, plan-based compensation rather than a directional trading signal.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Employee Stock Option (right to buy) | 9,736 | $0.00 | -- |
| Grant/Award | Common Stock | 5,760 | $0.00 | -- |
| Grant/Award | Common Stock | 5,760 | $0.00 | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common stock | -- | -- | -- |
Footnotes (1)
- These restricted shares were granted pursuant to the InTest Corporation 2023 Stock Incentive Plan (the "Plan") in a transaction exempt under Rule 16b-3 and will vest in four equal annual installments commencing on March 16, 2027. These performance-based restricted shares were granted pursuant to the Plan in a transaction exempt under Rule 16b-3 and will vest in March 2029 dependent upon certain performance criteria. The amount shown reflects the number of shares that will vest at target performance. The maximum number of shares that may vest pursuant to the performance criteria is 8,640. This option was granted pursuant to the Plan in a transaction exempt under Rule 16b-3 and will vest in four equal annual installments commencing on March 16, 2027. This option vests in four equal annual installments commencing on March 17, 2026. This option vests in four equal annual installments commencing on March 6, 2025. This option vests in four equal annual installments commencing on March 8, 2024. This option is fully vested as of the date of this report.
