inTEST Corp (INTT) CEO awarded stock, sells shares for taxes
Rhea-AI Filing Summary
inTEST Corp President & CEO Richard N. Grant Jr. reported new equity awards and a small share sale. He received 13,822 restricted shares that vest in four equal annual installments starting on March 16, 2027, and 13,822 performance-based restricted shares that may vest in March 2029 depending on performance, with a maximum of 20,733 shares vesting at above-target results. He was also granted an option for 23,365 shares of common stock at an exercise price of $14.47, vesting over four years beginning on March 16, 2027.
On March 18, 2026, Grant sold 1,636 common shares at a weighted average price of $14.279 per share to satisfy tax withholding obligations tied to restricted stock vesting, under a Rule 10b5-1 trading plan adopted on December 8, 2023. After this sale, he directly owns 212,730 common shares. He also continues to hold multiple option grants with exercise prices ranging from $7.74 to $16.06 and expiration dates between 2031 and 2035.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,636 | $14.279 | $23K |
| Grant/Award | Employee Stock Option (right to buy) | 23,365 | $0.00 | -- |
| Grant/Award | Common Stock | 13,822 | $0.00 | -- |
| Grant/Award | Common Stock | 13,822 | $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) | -- | -- | -- |
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 20,733. Shares sold to satisfy tax withholding obligations in connection with the vesting of restricted stock. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 8, 2023. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.25 to $14.425, inclusive. The reporting person undertakes to provide InTest Corporation, any security holder of InTest Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. 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.
