ZHANG RUI 4

What Happened

Zhang Rui, Vice President, Chief Accounting Officer & Corporate Controller of Photronics, was granted 1,467 restricted stock units (RSUs) on February 9, 2026. The Form 4 reports an acquisition price of $0.00 (typical for RSU grants); no cash changed hands. The award was granted under the company’s 2025 equity incentive compensation plan.

Key Details

• Transaction date: 2026-02-09 (Form 4 filed 2026-02-11; filing appears timely).
• Transaction type/code: Award/Grant (A).
• Shares/units granted: 1,467 RSUs at $0.00 (total reported acquisition value $0).
• Vesting schedule (per footnote): 25% on Jan 12, 2027; 25% on Jan 12, 2028; 25% on Jan 12, 2029; 25% on Jan 12, 2030.
• Plan: Granted pursuant to Photronics’ 2025 equity incentive compensation plan.
• Shares owned after transaction: Not specified in this filing.
• No sale, exercise, tax-withholding, or 10b5-1 plan noted in the filing.

Context

RSUs are a form of equity compensation that convert to actual shares only as they vest; until then they are typically non-transferable and subject to forfeiture if vesting conditions aren’t met. This grant is a compensation award rather than an open-market purchase or sale, so it should be viewed as part of Zhang’s pay package rather than a direct signal of buying or selling intent.