BRY.Berry CORP (bry)

Form 4: Berry Corp (bry) Executive Michael S. Helm Awarded Restricted Stock Units

Sentiment:

SEC Form 4

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Michael S. Helm, VP, CFO & CAO of Berry Corp (bry), was granted 32,493 Restricted Stock Units (RSUs) on February 29, 2024, according to a Form 4 filing.

Summary

  • On February 29, 2024, Michael S. Helm, VP, CFO & CAO of Berry Corp (bry), was granted 32,493 Restricted Stock Units (RSUs).
  • These RSUs represent a contingent right to receive one share of common stock of Berry Corporation (bry) per unit.
  • The RSUs will vest in three equal installments on the first three anniversaries of March 1, 2024, contingent upon Mr. Helm's continued employment.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard executive compensation disclosure. The grant of RSUs is generally viewed as a positive incentive for management.

Positives

  • The vesting schedule incentivizes continued employment of a key executive.

Future Outlook

The vesting of the RSUs is contingent upon the continued employment of the Reporting Person over the next three years.

Industry Context

Granting RSUs is a common practice to align executive interests with shareholder value and incentivize long-term performance in the oil and gas industry.

Comparison to Industry Standards

  • RSU grants are a typical component of executive compensation packages in the oil and gas industry, often used to attract and retain talent.
  • The vesting schedule of three years is also a common practice to ensure long-term commitment.

Key Dates

DateDescription
02/29/2024Date of transaction: Michael S. Helm was granted 32,493 Restricted Stock Units.
03/01/2024Vesting start date: One-third of the Restricted Stock Units vest on each of the first three anniversaries of this date.
03/04/2024Date of report: Form 4 filing date.

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