4/A: Gran Tierra Energy Inc. Executive Settles Performance Stock Units for Cash
SEC Form 4/A (Amendment)
Jim Evans, VP of Corporate Services at Gran Tierra Energy Inc., amended a previous filing to reflect the company's decision to settle vested performance stock units for cash instead of common stock.
Summary
- This Form 4/A filing reports changes in beneficial ownership for Jim Evans, VP of Corporate Services at Gran Tierra Energy Inc.
- The filing amends a previous report to reflect the company's election to settle vested performance stock units (PSUs) for cash instead of issuing common stock.
- On March 14, 2025, 64,423 PSUs vested and were settled for cash at a price of $108.83 per unit.
- Additionally, Mr. Evans disposed of 64,423 shares of common stock at a price of $6.79.
- Following these transactions, Mr. Evans directly owns 44,407 shares of common stock and indirectly owns 6,100 shares through a spouse.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing reflects standard executive compensation practices within the oil and gas industry, where performance-based equity awards are common. The decision to settle in cash may reflect the company's current cash position and strategy.
Comparison to Industry Standards
- Settling performance stock units for cash is a common practice among publicly traded companies, including those in the energy sector.
- Companies like ExxonMobil, Chevron, and ConocoPhillips also utilize equity incentive plans, but the specific terms and settlement methods vary.
- The value of the PSUs and the disposal price of the common stock are specific to Gran Tierra Energy's stock performance and compensation policies.
Stakeholder Impact
- The cash settlement of PSUs may slightly reduce the number of outstanding shares, potentially impacting shareholders marginally.
- The transaction primarily affects the executive's compensation and does not have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/14/2025 | Date of transaction: Vesting and cash settlement of performance stock units, and disposal of common stock. |
| 03/18/2025 | Date of original filing (amended by this filing). |
| 04/04/2025 | Date of signature on the amended form. |
Keywords
Form 4, Gran Tierra Energy, Beneficial Ownership, Performance Stock Units, Cash Settlement, Equity Incentive Plan, Jim Evans, GTE
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