AXCELIS TECHNOLOGIES INC — Director's Dealing 2020

Mar 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AXCELIS TECHNOLOGIES INC (ACLS)
CIK: 0001113232
Period of Report: 2020-02-28

Reporting Person: PUMA MARY G (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-28	Common Stock	F	7221	$0.00	Disposed	342652	Direct
2020-02-28	Common Stock	F	10111	$0.00	Disposed	332541	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6000	Indirect

Footnotes

F1: This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2020 of the remainder of performance based restricted stock units granted to the executive in May 2018. These shares were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 5, 2019, and half of the earned shares vested on February 28, 2019. As agreed with the executive, the shares issued to the executive on the vested shares were reduced by a number of shares having a value equal to the executive's tax withholding obligation with respect to the vested shares.

F2: These shares were withheld by the Company to cover the tax withholding obligations of the executive on the vesting of restricted stock units on February 28, 2020.

F3: Of the shares beneficially owned by the executive on February 28, 2020 after the vesting of the 2018 performance based restricted stock units, 151,414 shares were issuable on vesting of restricted stock units which are subject to forfeiture. This number includes 22,771 shares issuable under the executive's 2019 performance based restricted stock units, which also vested on February 28, 2020.

F4: This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2020 of the first half of shares earned under performance based restricted stock units granted to the executive in May 2019. These shares were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 12, 2020. The second half of the shares earned under this restricted stock unit award will vest on February 28, 2021, assuming continuation of the executive's services. As agreed with the executive, the shares issued to the executive on the vested shares were reduced by a number of shares having a value equal to the executive's tax withholding obligation with respect to the vested shares.

F5: Of the shares beneficially owned by the executive on February 28, 2020 after the vesting of shares issued on both the 2018 performance based restricted stock units and the 2019 performance based restricted stock units, 128,643 shares were issuable on vesting of restricted stock units which are subject to forfeiture.