Form 4: Archrock SVP, General Counsel Stephanie Hildebrandt Reports Stock Award Vesting
SEC Form 4 Filing
Stephanie Hildebrandt, SVP and General Counsel of Archrock, Inc., reports the vesting of 11,279 shares of common stock on March 5, 2024, following the achievement of a total shareholder return target.
Summary
- On March 5, 2024, Stephanie Hildebrandt, SVP and General Counsel of Archrock, Inc., reported a transaction involving the vesting of restricted stock units.
- The vesting resulted in the acquisition of 11,279 shares of common stock.
- These shares vested based on Archrock's achievement of a total shareholder return target relative to its peers over the period from January 1, 2021, to December 31, 2023.
- The Compensation Committee determined that the performance condition was met for 71% of the target amount, leading to the vesting of these shares.
- Following the transaction, Hildebrandt beneficially owns 376,796 shares of Archrock common stock.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive as it reflects the achievement of performance targets, leading to the vesting of shares. It suggests that the company is performing reasonably well relative to its peers.
Positives
- The vesting of shares indicates that Archrock achieved a portion of its performance targets related to shareholder return.
- The vesting of shares may be seen as a positive sign regarding the company's performance relative to its peers.
Industry Context
Form 4 filings are standard disclosures for company insiders and provide transparency into their transactions in the company's stock. This filing indicates that a performance-based equity award has vested, which is tied to the company's total shareholder return relative to its peers.
Stakeholder Impact
- Shareholders may view the vesting of performance-based equity as a positive sign, indicating that management is incentivized to improve shareholder value.
- Employees may see the achievement of performance targets as a positive indicator of the company's overall health and prospects.
Key Dates
| Date | Description |
|---|---|
| 03/05/2021 | Reporting person was granted an award of restricted stock units. |
| 01/01/2021 | Start of the performance measurement period for the restricted stock units. |
| 12/31/2023 | End of the performance measurement period for the restricted stock units. |
| 02/15/2024 | Compensation Committee determined that the performance condition was met as to 71% of the target amount. |
| 03/05/2024 | Vesting date of the restricted stock units. |
| 06/04/2024 | Date of signature for the Form 4 filing. |
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