Form 4: Chesapeake Energy Director Michael Wichterich Forfeits Shares for Tax Obligations
SEC Form 4
Director Michael Wichterich forfeited 2,025 shares of Chesapeake Energy common stock on March 1, 2024, to cover tax withholding obligations related to a restricted stock award.
Summary
- On March 1, 2024, Michael Wichterich, a director of Chesapeake Energy Corp, forfeited 2,025 shares of common stock.
- The shares were forfeited to satisfy tax withholding obligations related to the partial vesting of a previously disclosed restricted stock award.
- The transaction was executed at a price of $82.81 per share.
- Following the transaction, Mr. Wichterich beneficially owns 26,932 shares of Chesapeake Energy common stock.
Sentiment
Score: 5
Explanation: This is a neutral event; a routine transaction related to tax obligations on vested stock.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track the buying and selling activities of directors and officers.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of the transaction where Michael Wichterich forfeited shares. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
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