Form 4: Gulf Island Fabrication EVP Westley S. Stockton Reports Acquisition and Disposal of Common Stock

Westley S. Stockton, EVP, CFO, Sec/Treas of Gulf Island Fabrication Inc., reports acquisition of restricted stock units and subsequent disposal of shares to cover tax obligations.

Summary

• On February 25, 2025, Westley S. Stockton acquired 24,691 shares of Gulf Island Fabrication Inc. common stock related to time-vested restricted stock units.
• These units were granted on April 1, 2024, and vested upon certification of a performance condition.
• The restricted stock units vest in three equal annual installments starting April 1, 2025, contingent on continued service.
• On April 1, 2025, Stockton disposed of 7,543, 6,559 and 3,240 shares of common stock at $6.69 per share to cover taxes related to the vesting of the restricted stock units.
• Following these transactions, Stockton beneficially owns 481,722 shares of Gulf Island Fabrication Inc. common stock.

Sentiment

Score: 5

Explanation: The filing represents routine transactions related to executive compensation and does not indicate any significant positive or negative sentiment.

Future Outlook

The restricted stock units vest in three equal annual installments beginning April 1, 2025, provided the service condition is satisfied.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not significantly alter the company's financial position.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stockton, Gulf Island Fabrication, GIFI, Restricted Stock Units, Common Stock, Acquisition, Disposal