Form 4: Coterra Energy SVP Kevin Smith Reports Stock Award Vesting and Tax Withholding
SEC Form 4
Kevin William Smith, SVP & Chief Technology Officer of Coterra Energy Inc., reports the vesting of performance shares and associated tax withholding.
Summary
- On February 10, 2025, Kevin William Smith, SVP & Chief Technology Officer of Coterra Energy Inc., reported transactions related to performance shares.
- 25,718 shares of common stock were acquired due to the vesting of performance shares awarded on February 28, 2022, based on the achievement of certain performance criteria.
- The Compensation Committee of the Issuer certified the performance shares earned, resulting in full vesting of the portion payable in common stock and the remainder amount paid to the reporting person in cash.
- 10,121 shares were withheld by the Issuer to satisfy the reporting person's tax obligations related to the vesting of the performance shares at a price of $27.72.
- Following these transactions, Smith directly owns 85,663 shares of Coterra Energy Inc. common stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as it reflects routine executive compensation activity. The vesting of performance shares suggests the achievement of performance goals, which is mildly positive.
Positives
- The vesting of performance shares indicates that certain performance criteria were met, which could be viewed positively.
Industry Context
This filing is a routine disclosure related to executive compensation and is common in the energy industry.
Stakeholder Impact
- The vesting of performance shares aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| February 28, 2022 | Date of the grant of performance shares to the reporting person. |
| February 1, 2022 | Start date of the three-year performance period for the performance shares. |
| January 31, 2025 | End date of the three-year performance period for the performance shares. |
| February 10, 2025 | Date of the transaction (vesting of performance shares and tax withholding). |
| February 12, 2025 | Date of signature for the Form 4 filing. |
Keywords
Coterra Energy, Kevin William Smith, Performance Shares, Vesting, Tax Withholding, Form 4, CTRA, SVP, Chief Technology Officer
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