Form 4: Atmos Energy Corp: Michelle Faulk Reports Changes in Beneficial Ownership
SEC Form 4
Michelle Faulk, Vice President & Controller of Atmos Energy Corp, reports transactions involving common stock and derivative securities.
Summary
- Michelle Faulk, Vice President & Controller of Atmos Energy Corp, filed a Form 4 detailing changes in beneficial ownership.
- On November 5, 2024, Faulk acquired 294 shares of common stock at $137.32 due to the vesting of performance-based restricted stock units.
- Also on November 5, 2024, 101 shares were withheld for tax obligations at $137.32.
- Faulk directly owns 769 shares of common stock following these transactions.
- Faulk indirectly owns 1.3729 shares through the Retirement Savings Plan as of November 1, 2024.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to stock-based compensation and tax obligations. There are no indications of significant positive or negative developments.
Positives
- The vesting of performance-based restricted stock units indicates that performance targets were met, which is a positive signal.
Negatives
- The withholding of shares for tax obligations reduces the number of shares directly held by the reporting person.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices, including stock-based compensation and tax withholding.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align the interests of management with those of shareholders.
- Tax withholding on stock awards is a standard procedure to ensure compliance with tax regulations.
- Companies like ONE Gas, Inc. and Southwest Gas Holdings, Inc. also utilize stock-based compensation as part of their executive compensation packages.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard compensation practices.
- Employees who receive stock-based compensation are affected by the vesting and tax withholding processes.
Key Dates
| Date | Description |
|---|---|
| 1998 | The 1998 Long-Term Incentive Plan of the Company (the 'Plan') was established. |
| 11/01/2024 | End of period holdings update for the Atmos Energy Corporation Retirement Savings Plan and Trust. |
| 11/05/2024 | Date of common stock acquisition and shares withheld for tax obligations. |
| 11/07/2024 | Date of signature on the report. |
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