Form 4: Chesapeake Energy EVP Benjamin Russ Reports Stock Forfeiture for Tax Obligations
SEC Form 4 Filing
Benjamin Russ, EVP-General Counsel of Chesapeake Energy, reported the forfeiture of 383 common stock shares to cover tax withholding obligations related to a restricted stock award.
Summary
- On April 6, 2024, Benjamin Russ, the EVP-General Counsel of Chesapeake Energy Corp, forfeited 383 shares of common stock.
- The shares were forfeited to satisfy tax withholding obligations related to the vesting of a previously disclosed restricted stock award.
- The transaction was executed at a price of $89.51 per share.
- Following the transaction, Russ directly owns 13,784 shares of Chesapeake Energy common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a standard transaction (stock forfeiture for tax obligations). It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares forfeited by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/06/2024 | Date of stock forfeiture transaction |
| 04/09/2024 | Date of signature on the Form 4 filing |
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