Form 4: Amplify Energy Corp. Director Randal T. Klein Reports Changes in Beneficial Ownership Following Resignation

Randal T. Klein, a director of Amplify Energy Corp., reported changes in beneficial ownership due to the settlement of restricted stock units (TSUs) following his resignation from the Board on May 15, 2024.

Summary

• On May 15, 2024, Randal T. Klein, a director of Amplify Energy Corp., reported changes in his beneficial ownership of the company's securities.
• The changes are due to the settlement of previously awarded restricted stock units (TSUs) with service-based vesting conditions.
• Mr. Klein resigned from the Board of Directors on May 15, 2024, which accelerated the vesting of his TSUs.
• A total of 17,824 shares of common stock were acquired upon settlement of the TSUs.
• The TSUs were originally scheduled to vest on July 1, 2024, contingent upon Mr. Klein remaining on the Board through that date.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a change in beneficial ownership due to a director's resignation. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider. It is triggered by the director's resignation and the subsequent vesting of equity awards.

Management Changes

Stakeholder Impact

• The resignation of a director could have a minor impact on shareholder confidence, depending on the director's role and reputation.
• The vesting of TSUs results in the issuance of new shares, which could slightly dilute existing shareholders' ownership.

Key Dates