Form 4: Crescent Energy Director Erich Bobinsky Reports Stock Transaction

Director Erich Bobinsky of Crescent Energy Co. reports the acquisition of 11,428 Class A Common Stock shares through the settlement of restricted stock units, which he will transfer to Liberty Energy Holdings, LLC.

Summary

• Erich Bobinsky, a director at Crescent Energy Co., acquired 11,428 shares of Class A Common Stock on December 12, 2024.
• These shares were received as settlement of restricted stock units (RSUs) granted under the company's 2021 Equity Incentive Plan.
• Bobinsky has agreed to transfer any director compensation, including these shares, to Liberty Energy Holdings, LLC.
• He serves on the board as a nominee of PT Independence Energy Holdings LLC and is an officer of an affiliate of Liberty.
• Bobinsky disclaims beneficial ownership of the shares, except for his pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine filing of an insider transaction, which is neutral in sentiment. The transfer of shares is part of a pre-existing agreement, so there is no negative or positive surprise.

Management Comments

• Erich Bobinsky has agreed to transfer any director compensation he receives from the Issuer, including the Common Stock received in settlement of the RSUs, to Liberty Energy Holdings, LLC.
• The reporting person has agreed that he will not receive any separate compensation for serving as a director of the Issuer.

Industry Context

This is a routine filing related to insider transactions and compensation, common in publicly traded companies. It reflects the compensation structure and agreements between the director and related entities.

Comparison to Industry Standards

• The transfer of director compensation to a related entity is not uncommon, especially when the director is nominated by or affiliated with another company.
• Similar arrangements can be seen in other companies where directors have ties to major shareholders or related businesses.
• The use of RSUs as part of director compensation is a standard practice in many publicly traded companies.

Related Party Transactions

• The transfer of director compensation, including shares, to Liberty Energy Holdings, LLC is a related party transaction.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine part of director compensation.
• The transfer of shares to Liberty Energy Holdings, LLC does not directly affect the company's operations or financial position.

Key Dates

Keywords

Crescent Energy, Erich Bobinsky, Class A Common Stock, restricted stock units, RSUs, director compensation, Liberty Energy Holdings, PT Independence Energy Holdings, insider transaction, Form 4