Form 4: Gulfport Energy Corp Officer Craine Reports Stock Sales After RSU Vesting
SEC Form 4
Patrick K. Craine, CLAO and Corporate Secretary of Gulfport Energy Corp, reports the vesting of performance-based restricted stock units and subsequent sales of common stock.
Summary
- On May 17, 2024, Patrick K. Craine, CLAO and Corporate Secretary of Gulfport Energy Corp, had 122,753 performance-based restricted stock units (RSUs) vest.
- These RSUs were granted on July 21, 2021, and vested upon certification by the issuer's compensation committee.
- To cover tax obligations related to the vesting, 54,135 shares were withheld by the issuer at a price of $158.37 per share.
- Craine then sold 24,618 shares on May 20, 2024, at a weighted average price of $157.21.
- An additional 25,000 shares were sold on the same day at a weighted average price of $158.08.
- Finally, 19,000 shares were sold on May 20, 2024, at a weighted average price of $158.72.
- Following these transactions, Craine directly owns 31,484 shares of Gulfport Energy Corp common stock.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock vesting and sales. It doesn't indicate a strong positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of the regulatory landscape, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The stock sales could have a minor impact on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 05/17/2021 | Start of performance period for restricted stock units |
| 07/21/2021 | Grant date of performance-based restricted stock units |
| 05/17/2024 | Vesting date of performance-based restricted stock units and certification by the issuer's compensation committee |
| 05/20/2024 | Date of multiple stock sales by Craine |
| 05/21/2024 | Date of Form 4 filing |
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