Adrian Devasahayam - Mar 13, 2023 Form 4 Insider Report for VEECO INSTRUMENTS INC (VECO)

Role: SVP - PRODUCT LINE DEVELOPMENT
Signature: /s/ Kirk W. Mackey, Attorney-in-Fact
Stock symbol: VECO
Transactions as of: Mar 13, 2023
Transactions value $: -$58,595
Form type: 4
Date filed: 3/15/2023, 04:40 PM
Previous filing: Sep 16, 2022
Next filing: Mar 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VECO	Common Stock	Tax liability	-$30.1K	-1.45K	-2.32%	$20.82	61.1K	Mar 13, 2023	Direct	F1
transaction	VECO	Common Stock	Tax liability	-$28.4K	-1.39K	-2.27%	$20.51	59.7K	Mar 14, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VECO	Restricted Stock Unit	Award	$0	+8.4K		$0.00	8.4K	Mar 13, 2023	common stock	8.4K		Direct	F2, F3
transaction	VECO	Performance Based Restricted Stock Unit	Award	$0	+15.6K		$0.00	15.6K	Mar 13, 2023	common stock	15.6K		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents securities surrendered to Veeco to satisfy tax withholding obligations due upon the vesting of restricted stock.
F2	Each restricted stock unit represents a contingent right to receive one share of Veeco common stock.
F3	These restricted stock units (RSUs) were acquired pursuant to an award under the Veeco Instruments 2019 Stock Incentive Plan and are subject to certain restrictions. These restrictions will lapse with respect to 1/3 of such RSUs on each of the first, second and third anniversaries of the date of grant. Vested shares of Veeco common stock will be delivered to the reporting person on the vesting date.
F4	On March 13, 2023, the reporting person was granted the contingent right to receive 15,600 performance-based restricted stock units ("PRSUs"). This contingent right is subject to the reporting person's continued service with the Company and the achievement of three-year performance criteria, which is 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 represents 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. If the Criteria are not achieved, the award will be forfeited. Subject to having been earned, vested shares will be delivered to the reporting person on the date specified in the award agreement, but in no case earlier than the third anniversary of the grant date.