Director for MACOM (NASDAQ: MTSI) receives 776 RSUs for Summit Partners
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CHUNG PETER Y reported acquisition or exercise transactions in this Form 4 filing.
MACOM Technology Solutions director Peter Y. Chung reported an award of 776 restricted stock units of Common Stock. The units were granted as part of the director compensation program at no cash cost and will vest on March 6, 2027, if he remains in continuous service.
After this grant, 50,049 shares and restricted stock units are held in Mr. Chung’s name for the benefit of Summit Partners, L.P. Voting and investment decisions over these securities are made by Summit Partners, L.P. through a two-person investment committee, and beneficial ownership is disclaimed except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
CHUNG PETER Y
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 776 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 50,049 shares (Indirect, See Remarks)
Footnotes (1)
- Represents restricted stock units granted to Mr. Chung as part of the director compensation program. The restricted stock units will vest on March 6, 2027, and will settle solely by delivery of an equal number of shares of Common Stock provided that Mr. Chung remains in continuous service with the Issuer through the vesting date. The 50,049 shares and restricted stock units are held in the name of Mr. Chung, which are held for the benefit of Summit Partners, L.P. Mr. Chung holds any Common Stock and restricted stock units for the benefit of Summit Partners, L.P. which he has empowered to determine when the underlying shares will be sold and which is entitled to the proceeds of any such sales. Summit Partners, L.P., through a two-person Investment Committee, responsible for voting and investment decisions with respect to the Issuer, currently composed of Scott C. Collins and Peter Y. Chung, has voting and dispositive authority over the shares and restricted stock units reported herein and therefore may be deemed to beneficially own such shares. Summit Partners, L.P., Mr. Collins and Mr. Chung disclaims beneficial ownership of the shares of common stock and the restricted stock units, except to the extent of their pecuniary interest therein.
FAQ
What insider transaction did MACOM (MTSI) report for Peter Y. Chung?
The filing reports that director Peter Y. Chung acquired 776 restricted stock units of MACOM Common Stock. The award was made as part of the director compensation program and carried a $0.00 grant price, meaning no cash was paid for the units.
When do Peter Y. Chung’s new MACOM (MTSI) restricted stock units vest?
The 776 restricted stock units granted to Peter Y. Chung are scheduled to vest on March 6, 2027. Vesting is conditioned on Mr. Chung remaining in continuous service with MACOM Technology Solutions Holdings, Inc. through that vesting date.
How will Peter Y. Chung’s MACOM (MTSI) restricted stock units be settled?
Upon vesting, the restricted stock units will settle solely in shares of Common Stock of MACOM. Each restricted stock unit converts into one share of Common Stock, delivered after vesting if Mr. Chung meets the service condition.
Who has voting and investment authority over the MACOM (MTSI) securities linked to Peter Y. Chung?
Summit Partners, L.P., through a two-person investment committee including Scott C. Collins and Peter Y. Chung, holds voting and dispositive authority. They may be deemed to beneficially own these shares and restricted stock units, while also disclaiming ownership beyond pecuniary interest.
Is Peter Y. Chung’s MACOM (MTSI) transaction a purchase or an award?
The transaction is an award of restricted stock units, not an open-market purchase. It is coded as a grant or other acquisition, issued as part of the company’s director compensation program with no cash paid per share.