Form 4: Coterra Energy CEO Thomas Jorden Reports Stock Transactions Following Performance Share Vesting
SEC Form 4 Filing
CEO Thomas Jorden reports acquisition and disposal of Coterra Energy stock related to the vesting of performance shares and tax obligations.
Summary
- On February 10, 2025, Coterra Energy CEO Thomas Jorden reported transactions involving the company's common stock.
- These transactions are related to the vesting of performance shares awarded on February 28, 2022, based on performance criteria met over a three-year period ending January 31, 2025.
- The vesting resulted in the acquisition of 428,633 shares of common stock.
- 168,827 shares were withheld by Coterra Energy to cover the CEO's tax obligations.
- The CEO also reported a gift of 259,806 shares and acquisition of 259,806 shares into a trust.
- Following these transactions, Jorden directly owns 408,523 shares and indirectly owns 2,494,438 shares through a trust.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document simply reports transactions related to previously awarded performance shares. The vesting suggests the company met certain goals, which is mildly positive, but the tax withholding is a neutral event.
Positives
- The vesting of performance shares indicates that the company met certain performance criteria set by the Compensation Committee.
Industry Context
This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. The vesting of performance shares is a standard form of executive compensation tied to company performance.
Stakeholder Impact
- The vesting of performance shares rewards the CEO for achieving performance goals, which should be aligned with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| February 28, 2022 | Date of performance share award grant. |
| February 1, 2022 | Start date of the three-year performance period. |
| January 31, 2025 | End date of the three-year performance period. |
| February 10, 2025 | Date of the reported transactions (vesting, tax withholding, gift). |
| February 12, 2025 | Date of signature on the SEC Form 4. |
Keywords
Coterra Energy, CTRA, Thomas Jorden, Performance Shares, Stock Transactions, Vesting, SEC Form 4, Beneficial Ownership
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