Form 4: Chord Energy CEO Daniel Brown Sells Shares to Cover Tax Obligations

Chord Energy CEO Daniel Brown sold 17,374 shares of common stock to cover tax obligations related to the vesting of performance share units.

Summary

• Daniel Brown, the President and CEO of Chord Energy Corp, sold 17,374 shares of common stock on December 31, 2024.
• The sale was executed at a price of $113.88 per share.
• This transaction was to cover tax withholding obligations related to the vesting of performance share units under the company's 2020 Long Term Incentive Plan.
• Following the transaction, Mr. Brown directly owns 242,423 shares of Chord Energy common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction for an executive to cover tax obligations. It is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock options or restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the industry.
• Many companies use similar long-term incentive plans that result in these types of transactions.
• The number of shares sold and the price are specific to Chord Energy and Daniel Brown's compensation package.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

Chord Energy, Daniel Brown, stock sale, insider trading, performance share units, tax obligations, executive compensation