Form 4: Bristow Group Executive Vice President David F. Stepanek Reports Changes in Beneficial Ownership

David F. Stepanek, Executive Vice President and CTO of Bristow Group Inc., reports acquisition and disposal of common stock due to vesting of restricted stock units and tax liability coverage.

Summary

• On March 8, 2024, David F. Stepanek acquired 12,485 shares of Bristow Group Inc. common stock through vesting of restricted stock units.
• These restricted stock units vest in three equal annual installments starting March 8, 2025, and continuing on March 8, 2026, and March 8, 2027.
• On March 10, 2024, 2,178 shares were disposed of at a price of $25.63 to cover the associated tax liability upon the vesting of the first portion of a previous grant of restricted stock units.
• Following these transactions, Stepanek directly owns 55,911 shares of Bristow Group Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects standard executive compensation practices with no significant positive or negative implications.

Positives

• The vesting of restricted stock units indicates a continued investment in the company by its executives.

Negatives

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

Future Outlook

The executive will continue to receive shares as the restricted stock units vest in the future.

Industry Context

Executive compensation often includes stock options and restricted stock units to align management's interests with those of shareholders. This filing reflects a standard practice of granting and vesting such equity.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies, particularly in the aviation and energy sectors where Bristow Group operates.
• Companies like CHC Helicopter and Era Group (prior to its acquisition) also utilized similar equity-based compensation plans for their executives.
• The vesting schedules and tax withholding practices are generally consistent with industry norms.

Stakeholder Impact

• The vesting of restricted stock units aligns executive interests with shareholder value.

Key Dates