KIERNAN JOHN P 4
4 · VEECO INSTRUMENTS INC · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Veeco CFO John Kiernan Exercises PRSUs; Surrenders Shares for Taxes
What Happened John P. Kiernan, Chief Financial Officer of Veeco Instruments (VECO), had 30,274 shares issued on March 20, 2026 upon conversion/vesting of performance-based restricted stock units. To satisfy tax withholding on the vesting, 15,049 of those shares were surrendered (disposed) at $31.00 per share, resulting in $466,519 withheld. Net shares retained from this vesting were 15,225.
Key Details
- Transaction date: March 20, 2026 (reported on Form 4 filed March 24, 2026). The filing does not indicate a late reporting flag.
- Derivative conversion/exercise (code M): 30,274 shares acquired at $0.00 (vesting/conversion of PRSUs).
- Tax withholding (code F): 15,049 shares surrendered at $31.00 per share for $466,519.
- Net shares retained from this event: 30,274 acquired − 15,049 surrendered = 15,225 shares.
- Footnote: The PRSUs were granted March 13, 2023 and were earned at 172.5% of the original grant based on three-year relative total shareholder return vs. Russell 2000 criteria.
- The filing shows routine tax-withholding share surrender (not an open-market sale).
Context This was not an open-market buy or sale. It reflects the vesting/settlement of performance-based RSUs (a common form of executive compensation) and routine share surrender to meet tax obligations. Such transactions represent compensation realization rather than an explicit directional bet by the insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-20+30,274→ 78,671 total - Tax Payment
Common Stock
[F2]2026-03-20$31.00/sh−15,049$466,519→ 63,622 total
- 82,680(indirect: By Trust)
Common Stock
Footnotes (2)
- [F1]On March 13, 2023, the reporting person was granted the contingent right to receive 17,550 performance-based restricted stock units ("PRSUs"). This contingent right was subject to the reporting person's continued service with the Company and the achievement of three-year performance criteria, which was based on the Company's total shareholder return relative to other companies in the Russell 2000 as specified in the award agreement (the "Criteria"). Each PRSU represented the contingent right to receive one share of Veeco common stock. The award, if earned, could range from 50% to 200% of the granted PRSUs based on the achievement of the Criteria. The common stock award reflected in this filing represents achievement at the 172.5% level, which was realized.
- [F2]Represents securities surrendered to Veeco to satisfy tax withholding obligations due upon the vesting of restricted stock.