Form 4: CNX Resources CEO N.J. Deiuliis Reports Stock Vesting and Tax Withholding

N.J. Deiuliis, President and CEO of CNX Resources Corp, reports the vesting of performance share units and restricted stock units, along with shares withheld for tax obligations, resulting in adjustments to his beneficial ownership.

Summary

• On January 31, 2025, N.J. Deiuliis, the President and CEO of CNX Resources Corp, had several transactions involving CNX common shares.
• These transactions included the vesting of performance share units and performance-based restricted stock units (ESG) from the 2022-2024, 2023-2025, and 2024-2026 Long-Term Incentive Programs.
• A total of 83,826 shares were acquired through vesting of these units.
• Additionally, 64,883 shares were automatically withheld to cover the reporting person's tax liability at a price of $27.38 per share.
• Following these transactions, Deiuliis directly owns 2,374,798 shares and indirectly owns 270,436 shares through the DeIuliis 2021 Trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The vesting of shares suggests performance targets were met, which is mildly positive, but the tax withholding is a neutral event.

Positives

• The vesting of performance share units and restricted stock units indicates that performance targets were met, which is a positive sign for the company.

Negatives

• The withholding of a significant number of shares to cover tax obligations could be seen as a negative, as it reduces the executive's overall stake in the company.

Risks

• There are no specific risks mentioned in this document.
• However, significant stock transactions by executives can sometimes create uncertainty in the market.

Future Outlook

There is no future outlook provided in this document.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key company personnel.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards like the Performance Share Units and Restricted Stock Units described in the filing.
• Vesting schedules and tax withholding practices are standard components of these compensation plans.
• Companies like Range Resources, EQT Corporation, and Southwestern Energy also utilize similar equity-based compensation strategies for their executives.

Stakeholder Impact

• The vesting of shares and subsequent tax withholding have a minor impact on shareholders, as it slightly dilutes the overall share base.
• Employees may view the vesting of performance-based awards as a positive sign of company performance.

Key Dates

Keywords

CNX Resources, Deiuliis, Stock Vesting, Form 4, Beneficial Ownership, Performance Share Units, Restricted Stock Units, Tax Withholding, Executive Compensation