Form 4: ChampionX Corp EVP & CFO Kenneth M. Fisher Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kenneth M. Fisher, EVP & CFO of ChampionX Corp, reports acquisition and disposal of common stock and derivative securities.
Summary
- Kenneth M. Fisher, the EVP & CFO of ChampionX Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On February 3, 2025, Fisher acquired 8,759 shares of common stock at $0 and disposed of 3,452 shares at $28.53.
- Following these transactions, his direct ownership of common stock was 187,485 shares.
- On February 4, 2025, Fisher acquired 54,607 shares of common stock at $0, increasing his direct ownership to 242,092 shares.
- The acquisition of 8,759 shares on February 3, 2025, represents additional shares issued based on the final performance results of a performance share award.
- The performance share award was based on the company's relative total shareholder return and free cash flow as a percentage of revenue for the three-year performance period ending December 31, 2024.
- The Compensation Committee of the Board of Directors approved the issuance of these shares on February 3, 2025.
- These additional shares are part of the acceleration and settlement of performance share awards previously reported on Fisher's Form 4 filed on December 26, 2024.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reflects routine transactions and adjustments related to executive compensation. The performance-based share issuance is a positive sign, but the filing itself is a standard procedure.
Positives
- The acquisition of shares indicates a potential alignment of management's interests with those of shareholders, as the performance share award is tied to the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the compensation structure for ChampionX executives and how it is tied to company performance.
Stakeholder Impact
- Shareholders may view the performance-based share issuance positively, as it aligns management's interests with the company's financial performance.
Key Dates
| Date | Description |
|---|---|
| 12/26/2024 | Previous Form 4 filing reporting performance share awards. |
| 12/31/2024 | End of the three-year performance period for the performance share award. |
| 02/03/2025 | Date of common stock acquisition and disposal, and Compensation Committee approval of share issuance. |
| 02/04/2025 | Date of common stock acquisition. |
| 02/05/2025 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Form 4, ChampionX Corp, Kenneth M. Fisher, stock, securities, performance share award, EVP & CFO
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