Novanta (NASDAQ: NOVT) CFO exercises 2,935 units, withholds 1,420 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
NOVANTA INC Chief Financial Officer Robert Buckley exercised 2,935 Performance Stock Units into common shares, then used 1,420 shares to cover tax withholding at $144.93 per share. He now holds 92,549 shares directly and 36,219 shares indirectly through the Buckley Family Irrevocable Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,935 shares exercised/converted
Mixed
4 txns
Insider
Buckley Robert
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 2,935 | $0.00 | -- |
| Exercise | Common Stock | 2,935 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,420 | $144.93 | $206K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Stock Units — 0 shares (Direct);
Common Stock — 93,969 shares (Direct);
Common Stock — 36,219 shares (Indirect, Buckley Family Irrevocable Trust)
Footnotes (1)
- Each Performance Stock Unit represents the right to receive one Novanta Inc. common share upon vesting of such Performance Stock Unit. The number of shares underlying Performance Stock Unit award originally granted February 24, 2023 became fixed upon ratification by the Compensation Committee of the Board of Directors based on 58.4% achievement of performance target.
FAQ
What insider transaction did NOVT CFO Robert Buckley report on this Form 4?
Robert Buckley reported exercising 2,935 Performance Stock Units into Novanta common shares. He then used 1,420 of those shares to satisfy tax withholding obligations, reflecting a routine equity compensation and settlement event rather than an open-market stock purchase or sale.
What indirect Novanta (NOVT) holdings are associated with the Buckley Family Irrevocable Trust?
The filing lists 36,219 Novanta common shares held indirectly through the Buckley Family Irrevocable Trust. These shares are reported as indirect ownership, indicating they are held by the trust rather than directly in Robert Buckley’s personal brokerage or similar individual account.
How were the Performance Stock Units in the NOVT Form 4 originally determined?
The Performance Stock Unit award granted on February 24, 2023 became fixed based on 58.4% achievement of a performance target. Each Performance Stock Unit represents the right to receive one Novanta common share upon vesting, according to the explanatory footnotes provided.
What does transaction code M mean in the NOVT CFO’s Form 4?
Transaction code M in the CFO’s Form 4 indicates the exercise or conversion of a derivative security. Here it reflects Performance Stock Units converting into an equal number of Novanta common shares, rather than an open-market purchase of stock on a securities exchange.