Form 4: ChampionX Director Gary Luquette Acquires 4,135 Deferred Stock Units

Gary Luquette, a director at ChampionX Corp, acquired 4,135 deferred stock units, which will convert to common stock upon certain conditions.

Summary

• Gary Luquette, a director of ChampionX Corp, has acquired 4,135 deferred stock units (DSUs).
• These DSUs represent the right to receive one share of ChampionX common stock each upon settlement.
• Settlement of the DSUs will occur upon the earliest of a change in ownership or control of ChampionX or Mr. Luquette's separation from service.
• The DSUs were granted as compensatory awards and did not require any cash consideration.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, which is generally positive as it indicates alignment of interests between the director and the company. There is no indication of any negative sentiment.

Positives

• The acquisition of deferred stock units by a director may indicate confidence in the company's future performance.

Future Outlook

The deferred stock units will convert to common stock upon a change in ownership or control of ChampionX or Mr. Luquette's separation from service.

Industry Context

This is a standard transaction for a director of a public company, often part of their compensation package.

Comparison to Industry Standards

• Deferred stock unit grants are a common form of compensation for directors in publicly traded companies, aligning their interests with shareholders.
• The vesting conditions of these DSUs are typical, triggering upon change of control or separation from service, which is consistent with industry practices.

Stakeholder Impact

• The acquisition of deferred stock units by a director can be seen positively by shareholders as it aligns the director's interests with the company's performance.

Key Dates

Keywords

ChampionX, Deferred Stock Units, Director, Gary Luquette, Stock Acquisition, Compensation, SEC Form 4