Form 4: Expro Group CFO Quinn P. Fanning Reports Stock Transactions
SEC Form 4 Filing
Quinn P. Fanning, CFO of Expro Group Holdings N.V., reports acquisition and disposal of common stock and restricted stock units (RSUs) related to vesting and tax obligations.
Summary
- On February 22, 2025, Quinn P. Fanning, CFO of Expro Group Holdings N.V., acquired 51,237 restricted stock units (RSUs) and 9,682 shares of common stock upon vesting of performance-based restricted stock units (PRSUs).
- Fanning also disposed of 17,217 shares of common stock to cover tax withholding obligations related to the vesting of RSUs and PRSUs at a price of $13.06 per share.
- On February 24, 2025, Fanning disposed of an additional 3,368 shares of common stock to cover tax withholding obligations related to the vesting of RSUs at a price of $13.06 per share.
- Following these transactions, Fanning beneficially owns 133,223 shares of Expro Group Holdings N.V. common stock.
Sentiment
Score: 6
Explanation: The document is neutral in sentiment as it primarily reports transactions related to executive compensation. The vesting of equity awards suggests positive performance, but the tax-related disposals are a standard occurrence.
Positives
- The vesting of RSUs and PRSUs indicates that the company is meeting certain performance metrics, which is a positive sign.
Future Outlook
The document outlines future vesting dates for RSUs, indicating continued equity-based compensation for the reporting person.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of management's interests with those of shareholders.
Comparison to Industry Standards
- Equity compensation is a standard practice in the oilfield services industry, used to attract and retain talent.
- Companies like Schlumberger, Halliburton, and Baker Hughes also utilize RSUs and PRSUs as part of their executive compensation packages.
- The vesting schedules and performance metrics associated with these awards are typically aligned with long-term company performance and shareholder value creation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the issuance and repurchase of shares related to executive compensation.
- Employees holding RSUs and PRSUs are directly impacted by the vesting schedules and performance metrics associated with these awards.
Key Dates
| Date | Description |
|---|---|
| 10/01/2021 | Date of grant for the performance-based restricted stock units (PRSUs). |
| 02/21/2025 | Date used to determine the closing price per share for tax withholding obligations. |
| 02/22/2025 | Date of transaction for RSU acquisition and PRSU vesting. |
| 02/24/2025 | Date of transaction for RSU tax withholding. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
| 02/22/2026 | First vesting date for 51,237 RSUs and 50% vesting date for 20,638 RSUs. |
| 02/24/2026 | Vesting date for 8,558 RSUs. |
| 02/22/2027 | Second vesting date for 50% of 20,638 RSUs. |
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