Form 4: Granite Ridge Resources Director Thaddeus Darden Reports Stock Distribution

Director Thaddeus Darden reports a pro rata distribution of Granite Ridge Resources stock and indirect ownership through Monticello Avenue LLC.

Summary

• On April 9, 2024, Thaddeus Darden, a director of Granite Ridge Resources, Inc. [GRNT], reported a transaction involving the company's common stock.
• Darden received 9,119 shares of common stock through a pro rata distribution from Grey Rock Energy Partners GP III-A, L.P. and Grey Rock Energy Partners GP III-B, L.P.
• Following this transaction, Darden directly owns 211,156 shares of Granite Ridge Resources common stock.
• Darden also indirectly owns 37,584 shares through Monticello Avenue LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The transaction was reported on a Form 4 filed with the Securities and Exchange Commission.

Sentiment

Score: 5

Explanation: This is a neutral informational filing. It simply reports a change in beneficial ownership. There is no inherent positive or negative sentiment associated with the filing itself.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, such as directors and officers, trade in their company's stock. This filing indicates changes in Darden's ownership position in Granite Ridge Resources.

Stakeholder Impact

• The change in ownership may be of interest to shareholders, but the impact is likely minimal given the size of the transaction relative to the overall outstanding shares.

Key Dates