Albany International (AIN) Form 4 ALBANY INTERNATIONAL / Joseph M Gaug ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

Gaug Joseph M

(Last) (First) (Middle)

C/O ALBANY INTERNATIONAL CORP.

216 AIRPORT DRIVE

(Street)

ROCHESTER NH 03867

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALBANY INTERNATIONAL CORP /DE/ [ AIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP-General Counsel & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								1,127	I	By 401(k)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units(1)	(1)							03/01/2018(1)(2)	(1)(2)	Class A Common Stock	324		324	D
Phantom Stock Units(3)	(3)							03/01/2019(3)(4)	(3)(4)	Class A Common Stock	879		879	D
Phantom Stock Units(5)	(5)							03/01/2020(5)(6)	(5)(6)	Class A Common Stock	1,384		1,384	D
Phantom Stock Units(7)	(7)							03/01/2021(7)(8)	(7)(8)	Class A Common Stock	1,852		1,852	D
Restricted Stock Units(9)	(9)	02/19/2021		A		1,727		02/19/2022(9)(10)	(9)(10)	Class A Common Stock	1,727	$0(9)	1,727	D

Explanation of Responses:

1. Phantom Stock Units granted on February 22, 2018 pursuant to the Phantom Stock Unit Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

2. 324 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2018.

3. Phantom Stock Units granted on February 21, 2019 pursuant to the Phantom Stock Unit Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

4. 437 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2019.

5. Phantom Stock Units granted on February 20, 2020 pursuant to the Phantom Stock Unit Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

6. 461 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2020.

7. Phantom Stock Units granted on February 18, 2021 pursuant to the Phantom Stock Unit Plan. Each Phantom Stock Unit entitles the holder to receive the cash equivalent of one share of Class A Common Stock at the time of vesting.

8. 463 Phantom Stock Units will be settled and payable each year on or about March 1, beginning March 1, 2021.

9. Restricted Stock Units granted February 19, 2021 pursuant to the Albany International Corp. 2017 Incentive Plan. Each Restricted Stock Unit entitles the holder to receive one share of Class A Common Stock at the time of vesting.

10. 576 Restricted Stock Units vest on February 19, 2022; 576 Restricted Stock Units vest on February 19, 2023; and 575 Restricted Stock Units vest on February 19, 2024.

	Kathleen M. Tyrrell, Attorney-in-Fact	02/04/2022
	** Signature of Reporting Person	Date
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).
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