4/A: Gran Tierra Energy Inc. Executive Settles Performance Stock Units for Cash
SEC Form 4/A (Amendment to Statement of Changes in Beneficial Ownership)
Phillip D. Abraham, VP of Legal and Business Development 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 shares.
Summary
- This is an amendment to a Form 4 filing by Phillip D. Abraham, VP of Legal and Business Development at Gran Tierra Energy Inc.
- The amendment reflects the company's election to settle vested performance stock units (PSUs) for cash instead of issuing common stock.
- On March 14, 2025, 15,866 PSUs vested and were settled for cash.
- Abraham also disposed of 15,866 shares of common stock at a price of $6.79.
- Following the reported transactions, Abraham directly owns 28,626 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding executive compensation, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the energy industry.
Comparison to Industry Standards
- Executive compensation practices, including the use of performance stock units and cash settlement options, are common across the oil and gas industry.
- Companies like Canadian Natural Resources Limited (CNQ) and Suncor Energy (SU) also utilize equity-based compensation plans for their executives.
Stakeholder Impact
- Shareholders may be interested in executive compensation practices and insider transactions.
- The decision to settle PSUs for cash instead of shares could have a minor impact on the company's cash flow and share dilution.
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 that was amended. |
| 04/04/2025 | Date of signature on the amended Form 4/A. |
Keywords
Form 4, Gran Tierra Energy, Phillip Abraham, Performance Stock Units, Cash Settlement, Beneficial Ownership, GTE
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