AXCELIS TECHNOLOGIES INC — Director's Dealing 2020

May 19, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXCELIS TECHNOLOGIES INC (ACLS)
CIK: 0001113232
Period of Report: 2020-05-15

Reporting Person: ALDEBORGH JOHN E (EVP, Customer Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-15	Common Stock	A	13303	$0.00	Acquired	78794	Direct
2020-05-15	Common Stock	F	1543	$23.52	Disposed	77251	Direct
2020-05-16	Common Stock	F	2272	$23.95	Disposed	74979	Direct
2020-05-16	Common Stock	F	903	$23.95	Disposed	74076	Direct
2020-05-17	Common Stock	F	1110	$23.95	Disposed	72966	Direct

Footnotes

F1: These shares are issuable on vesting of restricted stock units granted under the Company's 2012 Equity Incentive Plan. Based on the achievement of performance goals and assuming continuation of employment, up to 50% of these restricted stock units will vest on each of February 28, 2021 and on the earlier of Mr. Aldeborgh's termination of employment or February 28, 2022. Unearned restricted stock units will forfeit on February 28, 2021.

F2: Of the shares held after this grant on May 15, 2020, 50,368 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.

F3: These shares were withheld by the Company to cover the tax withholding obligations of the executive on the vesting of restricted stock units.

F4: Represents the closing price of the common stock on the date of the tax withholding.

F5: Of the shares held after this tax withholding forfeiture (and related vesting) on May 15, 2020, 46,893 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.

F6: Of the shares held after this first tax withholding forfeiture (and related vesting) on May 16, 2020, 41,778 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.

F7: Of the shares held after this second tax withholding forfeiture (and related vesting) on May 16, 2020, 39,745 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.

F8: Of the shares held after this tax withholding forfeiture (and related vesting) on May 17, 2020, 37,245 were issuable on vesting of restricted stock units granted to the executive under the 2012 Equity Incentive Plan and are subject to forfeiture.