Form 4: Coterra Energy CEO Thomas Jorden Reports Stock Transactions

Coterra Energy CEO Thomas Jorden reports the acquisition and disposal of company stock and derivative securities, including the vesting of restricted stock units.

Summary

• Coterra Energy CEO Thomas Jorden reported several transactions involving the company's stock.
• On November 29, 2024, 488,759 restricted stock units vested, resulting in the acquisition of 488,759 shares.
• Also on November 29, 2024, 192,327 shares were withheld to cover tax obligations related to the vesting of the restricted stock units.
• On December 3, 2024, 296,432 shares were transferred from direct ownership to indirect ownership via a trust.
• On December 3, 2024, 296,432 shares were acquired by a trust, increasing the total indirect holdings.
• Following these transactions, Mr. Jorden directly owns 704,955 shares and indirectly owns 2,234,632 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by the CEO, which is neither positive nor negative in itself.

Industry Context

This is a routine filing related to executive compensation and does not indicate any significant change in the company's operations or outlook.

Comparison to Industry Standards

• Executive stock transactions are common in publicly traded companies, particularly around vesting dates for equity compensation.
• The use of restricted stock units and trusts for executive compensation is a standard practice in the oil and gas industry, similar to companies like EOG Resources and Pioneer Natural Resources.
• The tax withholding of shares is a typical procedure to cover tax liabilities associated with vesting equity.

Stakeholder Impact

• The transactions do not have a direct impact on stakeholders, as they are related to executive compensation.
• The filing provides transparency to shareholders regarding executive stock ownership.

Key Dates

Keywords

Coterra Energy, stock transactions, restricted stock units, insider trading, Form 4, Thomas Jorden, equity securities, beneficial ownership