Form 4: Chart Industries Grants Equity to Chief Accounting Officer Mark Durham

Chart Industries' Chief Accounting Officer, Mark Durham, received a grant of 640 restricted share units under the company's 2024 Omnibus Equity Plan.

Summary

• Mark Durham, Chief Accounting Officer of Chart Industries Inc. (GTLS), was granted 640 shares of common stock.
• The transaction occurred on July 11, 2025.
• These shares were granted as restricted share units (RSUs) pursuant to the Chart Industries, Inc. 2024 Omnibus Equity Plan.
• The RSUs were acquired at a price of $0 per share, indicating a grant rather than a purchase.
• Following this transaction, Mark Durham beneficially owns 1,970 shares of common stock.
• The RSUs will vest, with shares issued, in three equal installments (one-third each) on the first three anniversaries of the grant date, subject to tax withholding requirements.

Sentiment

Score: 7

Explanation: The document reports a routine equity grant to a key executive, which is generally viewed positively as it aligns management's interests with shareholders and aids in retention. There are no negative implications.

Positives

• The grant of restricted share units aligns the Chief Accounting Officer's interests with those of shareholders, promoting long-term value creation.
• Equity compensation serves as a retention mechanism for key executive talent.
• The transaction is exempt under Rule 16b-3, indicating it is part of a pre-approved compensation plan.

Future Outlook

The granted restricted share units are scheduled to vest in three equal annual installments on the first three anniversaries of the July 11, 2025 grant date, subject to tax withholding requirements.

Industry Context

The grant of restricted share units to a key executive is a common practice in corporate compensation structures across various industries, aiming to align executive incentives with long-term shareholder value and retain talent.

Comparison to Industry Standards

• The use of restricted share units (RSUs) as a form of executive compensation is a widely adopted practice across publicly traded companies, including those in the industrial manufacturing sector like Chart Industries.
• The vesting schedule of one-third per year over three years is a common structure for RSU grants, balancing immediate incentive with long-term retention.
• The grant being exempt under Rule 16b-3 indicates it adheres to established regulatory frameworks for insider transactions related to employee benefit plans, consistent with corporate governance best practices.

Corporate Governance

Related Party Transactions

• The transaction involves an equity grant to a Chief Accounting Officer, which is a standard form of executive compensation and an insider transaction.

Stakeholder Impact

• Shareholders: The grant aligns the Chief Accounting Officer's financial interests with shareholder value creation, potentially leading to improved long-term performance.
• Employees: Reflects the company's compensation strategy, which may influence employee morale and retention, particularly for key personnel.

Next Steps

• Vesting of restricted share units on July 11, 2026 (one-third of shares).
• Vesting of restricted share units on July 11, 2027 (one-third of shares).
• Vesting of restricted share units on July 11, 2028 (final one-third of shares).

Key Dates

Keywords

Chart Industries, GTLS, Form 4, SEC filing, equity grant, restricted stock units, RSU, executive compensation, insider transaction, Mark Durham, Chief Accounting Officer