Form 4: CNX CEO Alan Shepard Boosts Stake via RSU Vesting

CNX Resources CEO Alan Shepard increased his direct beneficial ownership of common shares through the vesting of performance-based restricted stock units, while also disposing of shares to cover tax liabilities.

Summary

• Alan K. Shepard, President & CEO and Director of CNX Resources Corp, reported changes in his beneficial ownership of common shares.
• On January 30, 2026, Shepard acquired 3,536 common shares from the vesting of Performance-Based Restricted Stock Units (ESG) under a 2023-2025 Performance Incentive Program.
• An additional 4,038 common shares were acquired on January 30, 2026, from the vesting of Performance-Based Restricted Stock Units (ESG) under a 2024-2026 Performance Incentive Program.
• Shepard also acquired 57,579 common shares on January 30, 2026, from the vesting of Performance Share Units under a 2023-2025 Performance Incentive Program.
• To satisfy tax liability from the vesting of restricted stock units, 28,337 common shares were disposed of at a price of $38.8 per share on January 30, 2026.
• Following these transactions, Shepard's direct beneficial ownership stands at 259,421 common shares.
• Of the beneficially owned shares, 86,856 are restricted stock units (including dividend equivalent rights).

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as moderately positive. The vesting of performance-based awards indicates the achievement of company goals, which is a positive signal. The subsequent sale of shares for tax purposes is a routine event and does not detract significantly from the overall positive implication of the award vesting.

Positives

• The vesting of 65,153 performance-based restricted stock units and performance share units indicates the achievement of performance targets by the reporting person.
• An increase in direct beneficial ownership of common shares by a key executive aligns management's interests with those of shareholders.

Negatives

• The disposition of 28,337 shares, valued at $38.8 per share, to cover tax liabilities reduces the executive's direct shareholding, although this is a routine event for RSU vesting.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, such as RSU vesting and tax-related dispositions, are common occurrences in executive compensation structures across various industries. While these filings provide transparency into executive holdings and compensation, they typically do not offer direct insights into broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: The increase in direct beneficial ownership by the CEO, even after tax-related sales, can be seen as a positive alignment of interests, potentially signaling confidence in the company's future performance.

Key Dates

Keywords

CNX Resources, Alan Shepard, Form 4, Insider Transaction, Restricted Stock Units, Performance Share Units, Executive Compensation, Beneficial Ownership