INTEST (INTT) division president receives stock awards and options, with shares withheld for taxes
Rhea-AI Filing Summary
INTEST CORP Division President – Electronic Test, Joseph Richard McManus Jr., reported routine equity compensation changes and related tax withholding. He received 2,535 restricted shares and 2,535 performance-based restricted shares of Common Stock that were granted under the company’s 2023 Stock Incentive Plan and vest over multiple years, including installments starting on March 16, 2027 and potential vesting in March 2029 based on performance.
He also received an employee stock option covering 4,284 shares of Common Stock at an exercise price of $14.47 per share, expiring in 2036, which vests in four equal annual installments beginning on March 16, 2027. To cover tax obligations on the vesting of restricted stock on March 17, 2026, 296 shares of Common Stock were withheld at a price of $14.46 per share. After these transactions, he directly owns 35,693 Common shares and holds several option awards with exercise prices between $7.74 and $16.06 expiring between 2031 and 2035.
Positive
- None.
Negative
- None.
Insights
Routine stock grants and tax withholding with no open‑market trading.
The transactions show equity compensation for an INTEST CORP division president rather than discretionary buying or selling. He received restricted and performance-based shares plus a stock option grant at an exercise price of $14.47, all under the 2023 Stock Incentive Plan.
Shares withheld at $14.46 per share were used to cover tax obligations upon vesting, which is not an open-market sale and carries little informational signal about his view of the stock. He retains 35,693 Common shares and multiple option grants expiring between 2031 and 2036.
Overall, these are standard compensation and tax events with no indication of a meaningful shift in his economic exposure, so the impact on an investment thesis is neutral based solely on this information.
FAQ
What did INTT executive Joseph McManus acquire in this Form 4 filing?
Were any INTT shares sold by Joseph McManus in the open market?
How many INTT shares does Joseph McManus own after these transactions?
What are the key terms of Joseph McManus’s new INTT stock option grant?
How do the performance-based INTT shares for Joseph McManus vest?
What other stock options does Joseph McManus hold in INTT?