# EDGAR Filing Document

**Accession Number:** 0001689237
**File Stem:** 0001209191-23-014090
**Filing Date:** 2023-3
**Character Count:** 8051
**Document Hash:** 4016ff10d02145f56fe5a801e00838b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-014090.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001209191-23-014090

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230228

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Low Russell
- **CENTRAL INDEX KEY:** 0001689237

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-30941
- **FILM NUMBER:** 23693678

**MAIL ADDRESS:**
- **STREET 1:** 108 CHERRY HILL DRIVE
- **CITY:** BEVERLY
- **STATE:** MA
- **ZIP:** 01915
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AXCELIS TECHNOLOGIES INC
- **CENTRAL INDEX KEY:** 0001113232
- **STANDARD INDUSTRIAL CLASSIFICATION:** SPECIAL INDUSTRY MACHINERY, NEC [3559]
- **IRS NUMBER:** 341818596
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 108 CHERRY HILL DRIVE
- **CITY:** BEVERLY
- **STATE:** MA
- **ZIP:** 01915
- **BUSINESS PHONE:** 978-787-4000

**MAIL ADDRESS:**
- **STREET 1:** 108 CHERRY HILL DRIVE
- **CITY:** BEVERLY
- **STATE:** MA
- **ZIP:** 01915

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON SEMICONDUCTOR EQUIPMENT INC
- **DATE OF NAME CHANGE:** 20000501

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Low Russell<br><sub>(Last) (First) (Middle)</sub><br>AXCELIS TECHNOLOGIES, INC.<br>108 CHERRY HILL DRIVE<br><sub>(Street)</sub><br>BEVERLY, MA 01915<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_EVP, Global Cust & Eng Ops_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>AXCELIS TECHNOLOGIES INC [ ACLS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-28 |  | F<sup>(1)</sup> |  | 1837 | D | 0.00<sup>(2)</sup> | 59885<sup>(3)</sup> | D |  |
| Common Stock | 2023-02-28 |  | F<sup>(4)</sup> |  | 1512 | D | 0.00<sup>(2)</sup> | 58373<sup>(5)</sup> | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2023 of the remainder of performance based restricted stock units granted to the executive in May 2021.  These shares were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 15, 2022, and half of the earned shares vested on February 28, 2022. 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.

(2) 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, 2023.

(3) Of the shares beneficially owned by the executive on February 28, 2023 after the vesting of the 2021 performance based restricted stock units, 29,544 shares were issuable on vesting of restricted stock units which are subject to forfeiture. This number includes 3,970 shares issuable under the executive's 2022 performance based restricted stock units, which also vested on February 28, 2023.

(4) This forfeiture of shares for tax withholding purposes relates to the vesting on February 28, 2023 of the first half of shares earned under performance based restricted stock units granted to the executive in May 2022.  These shares were determined to be earned by the executive pursuant to a resolution of the Axcelis Technologies, Inc. Compensation Committee on February 16, 2023.  The second half of the shares earned under this restricted stock unit award will vest on February 28, 2024, 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.

(5) Of the shares beneficially owned by the executive on February 28, 2023 after the vesting of shares issued on both the 2021 performance based restricted stock units and the 2022 performance based restricted stock units, 25,574 shares were issuable on vesting of restricted stock units which are subject to forfeiture.

**Signature:** Lynnette C. Fallon, as attorney in fact for Russell J. Low  
**Date:** 2023-03-01

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**