Form 4: John C. Goff Reports Changes in Beneficial Ownership of Crescent Energy Co (CRGY)

John C. Goff, a director and 10% owner of Crescent Energy Co, reports acquisition of restricted stock units and various holdings of Class A Common Stock through direct and indirect ownership.

Summary

• On April 1, 2024, John C. Goff reported changes in his beneficial ownership of Crescent Energy Co (CRGY) Class A Common Stock.
• Goff acquired 25,492 restricted stock units (RSUs) at a price of $0, which will vest on April 1, 2025, contingent upon continuous service.
• He also reported the disposal of 714,357 shares of Class A Common Stock held in an IRA account.
• Goff's holdings include direct ownership and indirect ownership through various entities such as Goff MCF Partners, LP, JCG 2016 Holdings, LP, and The Goff Family Foundation.
• The total indirect holdings amount to several million shares, with Goff disclaiming beneficial ownership except to the extent of his pecuniary interest.
• The report details the complex ownership structure involving multiple layers of partnerships, trusts, and LLCs.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing primarily reports transactions and holdings, with no explicit positive or negative commentary. The disposal of shares is balanced by the acquisition of RSUs.

Positives

• The acquisition of 25,492 RSUs indicates a continued alignment of interest between John C. Goff and the future performance of Crescent Energy Co.

Negatives

• The disposal of 714,357 shares from an IRA account could be interpreted negatively, although the reason for the disposal is not specified.

Risks

• The complex ownership structure involving multiple entities could create opacity and potential conflicts of interest.
• Changes in control or management of the various entities through which Goff holds shares could impact his overall beneficial ownership.

Future Outlook

The vesting of the RSUs on April 1, 2025, is contingent upon the reporting person's continuous service.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders, allowing investors to monitor changes in ownership and potential alignment of interests.

Stakeholder Impact

• Shareholders may be interested in the changes in beneficial ownership as it reflects insider activity.
• The vesting of RSUs incentivizes the reporting person to remain with the company.

Key Dates