Form 4: EOG Resources EVP & COO Jeffrey Leitzell Exercises Stock Appreciation Rights and Sells Shares
Insider Transaction Report
EOG Resources' Executive Vice President and Chief Operating Officer, Jeffrey R. Leitzell, reported the exercise of Stock Appreciation Rights and subsequent sale of common stock, resulting in a net decrease of 2,000 shares in his beneficial ownership.
Summary
- Jeffrey R. Leitzell, EVP & COO of EOG Resources Inc. (EOG), reported transactions involving the company's common stock.
- On June 30, 2025, Mr. Leitzell acquired 8,640 shares of common stock by exercising Stock Appreciation Rights (SARs) at an exercise price of $75.09 per share.
- On the same day, he disposed of a total of 10,639 shares of common stock through various transactions: 5,421 shares at $119.70, 1,267 shares at $119.70 (for tax withholding), and 3,951 shares at $119.65.
- An additional 1 share was disposed of on July 1, 2025, at $119.65.
- Following these transactions, Mr. Leitzell's direct beneficial ownership of EOG common stock decreased from 56,377.57 shares (after the SAR exercise) to 45,737.57 shares.
- The Stock Appreciation Rights were granted on September 26, 2019, became fully exercisable on September 26, 2022, and have an expiration date of September 26, 2026.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the net sale of shares by a key executive, which can sometimes be interpreted as a lack of confidence. However, the transaction also involves the exercise of SARs, which is a positive for the executive, and such sales are often part of pre-planned compensation strategies or personal financial management, mitigating strong negative sentiment.
Positives
- The exercise of Stock Appreciation Rights (SARs) by a senior executive indicates that the strike price ($75.09) was significantly below the market price at the time of exercise (around $119.70), suggesting a profitable event for the executive and reflecting past stock price appreciation.
Negatives
- A net disposal of 2,000 shares by a senior executive (EVP & COO) could be perceived negatively by investors, as it reduces the executive's direct stake in the company.
Future Outlook
No forward-looking statements or guidance are provided in this Form 4 filing, as it is a report of past insider transactions.
Industry Context
This Form 4 filing reports an individual insider transaction and does not provide information directly related to broader industry trends or competitive landscape. Such transactions are common for executives managing their compensation and equity holdings.
Stakeholder Impact
- Shareholders: May view the net sale of shares by a senior executive as a slight negative signal, although such sales are often part of routine compensation management.
Key Dates
| Date | Description |
|---|---|
| 09/26/2019 | Date Stock Appreciation Rights (SARs) were granted. |
| 09/26/2020 | First anniversary of SAR grant, 33% of SARs became exercisable. |
| 09/26/2021 | Second anniversary of SAR grant, an additional 33% of SARs became exercisable. |
| 09/26/2022 | Third anniversary of SAR grant, remaining 34% of SARs became exercisable, making them fully exercisable. |
| 06/30/2025 | Date of reported transactions including exercise of SARs and disposal of common stock. |
| 07/01/2025 | Date of additional common stock disposal. |
| 07/02/2025 | Date the Form 4 was signed by attorney-in-fact. |
| 09/26/2026 | Expiration date of the Stock Appreciation Rights (SARs). |
Keywords
EOG Resources, EOG, Jeffrey R. Leitzell, Insider Trading, Form 4, Stock Appreciation Rights, SARs, Common Stock, Executive Compensation, Share Sale
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