John P. Kiernan - Mar 14, 2024 Form 4 Insider Report for VEECO INSTRUMENTS INC (VECO)

Role
SVP & CHIEF FINANCIAL OFFICER
Signature
/s/ Kirk W. Mackey, Attorney-in-Fact
Stock symbol
VECO
Transactions as of
Mar 14, 2024
Transactions value $
$0
Form type
4
Date filed
3/18/2024, 04:45 PM
Previous filing
Mar 14, 2024
Next filing
Mar 20, 2024

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 +12.3K $0.00 12.3K Mar 14, 2024 common stock 12.3K Direct F1, F2
transaction VECO Performance Based Restricted Stock Unit Award $0 +22.8K $0.00 22.8K Mar 14, 2024 common stock 22.8K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Veeco common stock.
F2 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.
F3 On March 14, 2024, the reporting person was granted the contingent right to receive 22,750 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.