Form 4: Chord Energy Director Disposes Shares for Tax Obligations Following RSU Vesting

Chord Energy Corp. Director Ian C. Dundas disposed of 5,178 shares of common stock on May 31, 2025, to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Ian C. Dundas, a Director of Chord Energy Corp. (CHRD), reported a disposition of common stock.
• The transaction occurred on May 31, 2025, and involved 5,178 shares of Chord Energy Common Stock.
• The disposition was a 'F' transaction code, indicating a disposition to the issuer to satisfy tax withholding obligations.
• These shares were withheld by the Issuer in connection with the vesting and settlement of restricted stock units (RSUs) granted under the Issuer's 2020 Long Term Incentive Plan.
• The number of shares withheld was determined based on the closing price of Common Stock on May 30, 2025, which was $90 per share.
• Following this transaction, Mr. Dundas directly beneficially owns 72,211 shares of Common Stock and indirectly owns 50 shares through his wife.

Sentiment

Score: 5

Explanation: The transaction is a routine administrative event related to executive compensation and tax obligations, which is neutral in terms of its direct impact on the company's operational performance or financial health.

Positives

• The vesting of restricted stock units indicates that the performance or tenure conditions for the award were met, reflecting the execution of the company's long-term incentive plan.

Negatives

• The transaction resulted in a reduction of 5,178 shares from the director's direct beneficial ownership.

Future Outlook

This Form 4 filing does not provide any forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Management Comments

• The Issuer withheld Common Stock that would otherwise have been issued to the Reporting Person to satisfy his tax withholding obligations, in connection with the vesting and settlement of restricted stock units pursuant to the Issuer's 2020 Long Term Incentive Plan.

Industry Context

This transaction is a routine insider filing related to executive compensation and does not provide specific insights into broader industry trends or competitive dynamics. It reflects a standard practice for managing equity-based compensation upon vesting.

Related Party Transactions

• The transaction involves the disposition of shares by a director to the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units, which is a standard compensation-related transaction.

Stakeholder Impact

• Shareholders: Minimal direct impact, as this is a routine tax-related disposition of shares from an existing compensation plan.
• Employees: No direct impact on general employees, but reflects the structure of executive equity compensation.

Key Dates

Keywords

Chord Energy, CHRD, SEC Form 4, Insider Transaction, Stock Disposition, Restricted Stock Units, RSU, Tax Withholding, Director, Equity Compensation