Form 4: Archrock Director J.W.G. Honeybourne Acquires Shares Through Retainer Fee Election

Director J.W.G. Honeybourne acquired 618 shares of Archrock, Inc. (AROC) common stock at $20.22 per share as part of his director's retainer fees.

Summary

• On June 28, 2024, J.W.G. Honeybourne, a director of Archrock, Inc. (AROC), acquired 618 shares of common stock.
• The shares were acquired at a price of $20.22 per share.
• This acquisition was part of Mr. Honeybourne's election to receive 50% of his 2024 retainer fees in common stock under the Issuer's Directors' Stock and Deferral Plan.
• Following the transaction, Mr. Honeybourne directly owns 165,306 shares of Archrock, Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking equity in lieu of cash compensation signals confidence in the company's prospects.

Positives

• The director's decision to take a portion of his retainer in stock shows confidence in the company's future.

Industry Context

Directors receiving stock as part of their compensation is a common practice to align their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation structures vary across the industry, but equity-based compensation is a common component.
• Companies like Kinder Morgan and Williams Companies also utilize equity-based compensation for their directors.
• The percentage of retainer fees paid in stock can vary, but 50% is within a reasonable range for aligning director and shareholder interests.

Related Party Transactions

• The acquisition of stock by the director as part of his retainer fee arrangement constitutes a related party transaction.

Stakeholder Impact

• The transaction aligns the director's interests with those of shareholders, potentially leading to better corporate governance and decision-making.

Key Dates