Form 4: Coterra Energy SVP Michael DeShazer Reports Stock Award Vesting and Tax Withholding

Michael D. DeShazer, SVP at Coterra Energy, reports the vesting of performance shares and associated tax withholding on February 10, 2025.

Summary

• On February 10, 2025, Michael D. DeShazer, SVP at Coterra Energy, reported transactions related to performance shares.
• 25,718 shares of common stock were acquired due to the vesting of performance shares based on the achievement of certain performance criteria.
• These performance shares were granted on February 28, 2022, and vested based on performance over a three-year period ending January 31, 2025.
• 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 Coterra Energy to cover DeShazer's tax obligations related to the vesting of the performance shares at a price of $27.72 per share.
• Following these transactions, DeShazer directly owns 114,220 shares of Coterra Energy common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects the expected vesting of performance shares based on pre-defined criteria. The tax withholding is a normal part of the vesting process.

Positives

• The vesting of performance shares indicates that certain performance criteria were met over the three-year performance period.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The vesting of performance shares aligns management's interests with those of shareholders.

Key Dates

Keywords

Coterra Energy, DeShazer, Performance Shares, Vesting, Tax Withholding, Form 4, CTRA, SEC