Form 4: Amplify Energy Corp. Executive Eric M. Willis Reports Stock Transactions

Eric M. Willis, SVP, GENERAL COUNSEL & CORPORATE SECRETARY of Amplify Energy Corp., reports acquisition and disposal of company stock and restricted stock units on March 16, 2024.

Summary

• On March 16, 2024, Eric M. Willis, an officer of Amplify Energy Corp., reported transactions involving the company's common stock and restricted stock units (TSUs).
• Willis acquired 12,429 shares of common stock upon settlement of previously awarded TSUs.
• He also disposed of 4,891 shares to cover tax obligations at a price of $6.05 per share.
• Following these transactions, Willis directly owns 155,919 shares of Amplify Energy Corp.
• Willis also holds 86,725 restricted stock units, which vest over a three-year period.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing reflecting standard compensation practices. The acquisition of shares through TSU settlement is mildly positive, while the disposal for tax purposes is neutral.

Positives

• The acquisition of shares through TSU settlement indicates confidence in the company's future.

Negatives

• The disposal of shares to cover tax obligations, while common, slightly reduces the officer's holdings.

Risks

• Future stock transactions by company executives could influence market perception of the stock.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting schedule of the restricted stock units suggests a continued relationship between the reporting person and the company over the next three years.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be useful for investors assessing management's sentiment and potential future performance.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, aligning management's interests with long-term shareholder value, similar to practices at companies like Occidental Petroleum or APA Corporation.
• The tax-related disposal of shares is a common occurrence among executives receiving equity compensation, and is similar to what is seen at ExxonMobil and Chevron.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive stock ownership.
• The vesting schedule of TSUs incentivizes the executive to remain with the company, benefiting stakeholders.

Key Dates