Form 4: Alliance Resource Partners CEO Settles Phantom Units in Cash Following Retirement Plan Termination
SEC Form 4 Filing
Alliance Resource Partners CEO Joseph W. Craft III settled phantom units in cash following the termination of the Alliance Coal, LLC Supplemental Executive Retirement Plan.
Summary
- Joseph W. Craft III, CEO of Alliance Resource Partners, reported a change in beneficial ownership of securities.
- The Alliance Coal, LLC Supplemental Executive Retirement Plan was terminated on December 16, 2024.
- As a result, 409,246 phantom units held by Mr. Craft were settled in cash instead of common units.
- Mr. Craft directly owns 18,631,398 common units.
- He also indirectly owns 2,000 common units through his son and 168,602 common units through his spouse.
Sentiment
Score: 7
Explanation: The document is a routine SEC filing detailing a standard transaction related to executive compensation. There is no indication of positive or negative sentiment, it is a neutral event.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership by a company executive, which is common in the energy sector. The settlement of phantom units in cash is a consequence of the termination of a specific retirement plan.
Comparison to Industry Standards
- Executive compensation packages often include phantom units or similar instruments, which are typically settled in cash or shares upon vesting or retirement.
- The termination of a supplemental executive retirement plan and subsequent cash settlement is not unusual, and is often part of a company's overall compensation strategy.
- Other companies in the energy sector, such as Peabody Energy or Arch Resources, also disclose similar transactions by their executives through SEC filings.
Stakeholder Impact
- The settlement of phantom units in cash does not have a significant impact on shareholders as it is a standard executive compensation event.
- The termination of the retirement plan may have implications for other participants, but this is not detailed in the document.
Key Dates
| Date | Description |
|---|---|
| 12/16/2024 | Date of the earliest transaction and termination of the Alliance Coal, LLC Supplemental Executive Retirement Plan. |
| 12/18/2024 | Date of signature of the SEC Form 4 filing. |
Keywords
Alliance Resource Partners, ARLP, Joseph W. Craft III, phantom units, executive retirement plan, beneficial ownership, SEC Form 4, common units
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