Form 4: ChampionX Corp Executive Antoine Marcos Reports Share Transactions
SEC Form 4 Filing
Antoine Marcos, VP, Corp Controller, and CAO of ChampionX Corp, reports acquisition and disposal of common stock related to a performance share award settlement.
Summary
- Antoine Marcos, a VP, Corp Controller, and CAO at ChampionX Corp, filed a Form 4 detailing changes in beneficial ownership.
- On February 3, 2025, Marcos acquired 8,758 shares of common stock at $0 related to the settlement of a performance share award.
- Also on February 3, 2025, Marcos disposed of 2,370 shares of common stock at $28.53.
- On February 4, 2025, Marcos acquired 8,532 shares of common stock at $0.
- Following these transactions, Marcos directly owns 70,164 shares of ChampionX Corp common stock.
- 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 approved the performance results and the number of shares earned on February 3, 2025.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to stock transactions. The performance share award suggests positive performance, but the filing itself is simply a reporting requirement.
Positives
- The performance share award indicates that the company met certain performance targets related to shareholder return and free cash flow.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to compensation and performance-based awards.
Comparison to Industry Standards
- Performance-based equity compensation is a common practice among publicly traded companies to align management's interests with those of shareholders.
- The metrics used, such as total shareholder return and free cash flow, are standard performance indicators in the industry.
- Similar companies like Schlumberger, Halliburton, and Baker Hughes also utilize performance-based equity awards as part of their executive compensation packages.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| December 31, 2024 | End of the three-year performance period for the performance share award. |
| February 3, 2025 | Date of common stock acquisition and disposal, and Compensation Committee approval of performance results. |
| February 4, 2025 | Date of common stock acquisition. |
| February 5, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, beneficial ownership, ChampionX Corp, Antoine Marcos, performance share award, stock transaction, CHX
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