COOGAN JAMES GORDON 4
4 · AXCELIS TECHNOLOGIES INC · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Axcelis (ACLS) CFO James Coogan Forfeits 1,800 Shares for Taxes
What Happened
James G. Coogan, Executive Vice President and Chief Financial Officer of Axcelis Technologies (ACLS), had 1,800 shares forfeited on March 2, 2026 to satisfy his tax withholding obligation related to the vesting of performance-based restricted stock units (PRSUs). The shares were valued at $86.58 each (closing price on March 2, 2026), for a total of $155,844. This was a tax-withholding disposition (transaction code F), not an open-market sale.
Key Details
- Transaction date: March 2, 2026 (period of report: March 2, 2026).
- Shares forfeited/Disposed: 1,800 at $86.58; total value $155,844 (used to satisfy tax withholding).
- Transaction code: F — shares withheld/forfeited to cover tax liability on vested awards.
- Why: Withholding relates to vesting of 2024 performance-based RSUs granted in May 2024; 150% of target was earned and half of the earned shares vested Feb 28, 2025, the remainder vested Feb 28, 2026 (see footnote F1).
- Shares after vesting: Of the shares held after vesting of the remaining 2024 PRSUs, 31,096 were issuable on vesting and remain subject to forfeiture (footnote F3).
- Price reference: $86.58 is the closing price on March 2, 2026 (footnote F2).
- Filing status: No late filing indicated in the report.
Context
This was a routine tax-withholding adjustment tied to the vesting of performance-based RSUs (a cashless withholding/forfeiture), not a discretionary sale that would necessarily signal insider sentiment. The PRSUs were previously determined to be earned at 150% of target by the company’s compensation committee; the withholding simply reduced the issued shares by the number needed to cover tax obligations.
Insider Transaction Report
- Tax Payment
Common Stock
[F2][F1][F3]2026-03-02$86.58/sh−1,800$155,844→ 37,144 total
Footnotes (3)
- [F1]This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2026 of performance-based restricted stock units ("2024 PRSUs") granted to the executive in May 2024. Of the 2024 PRSUs granted, 150% were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 13, 2025, with half of the earned shares vesting on February 28, 2025 and the remaining half of the earned shares vesting on February 28, 2026. The shares issued to the executive on the vesting were reduced by a number of shares having a value equal to the executive's tax withholding obligation with respect to the vested 2024 PRSUs.
- [F2]Represents the closing price of the Company's common stock on March 2, 2026, the date of the tax withholding.
- [F3]Of the shares held after the vesting of the remaining 2024 PRSUs, 31,096 were issuable on vesting of restricted stock units granted to the reporting person under the 2012 Equity Incentive Plan and are subject to forfeiture.