Form 4: Silver Point Capital L.P. Reports Ownership Changes in Gulfport Energy Corp

Silver Point Capital L.P. reports changes in beneficial ownership of Gulfport Energy Corp shares, including the grant of restricted shares and distribution of shares related to resolved legal proceedings.

Summary

• Silver Point Capital L.P., along with related individuals Edward A. Mule and Robert J. O'Shea, reported changes in their beneficial ownership of Gulfport Energy Corp (GPOR) shares.
• On May 23, 2024, 964 time-based restricted shares were granted to David Reganato, a director of Gulfport Energy and an employee of Silver Point Capital, under the company's 2021 Stock Incentive Plan; these shares will vest on May 23, 2025.
• The reporting persons also received 24,410 shares of Gulfport Energy's common stock, distributed as holders of claims related to certain notes of the issuer, contingent upon the resolution of legal proceedings.
• Silver Point Capital L.P. directly owns 5,197,848 shares of Gulfport Energy Corp.
• Following the reported transactions, Silver Point Capital L.P. indirectly owns 9,471 shares of Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating neutral sentiment. It reports transactions without expressing positive or negative views.

Positives

• Resolution of legal proceedings led to the distribution of 24,410 shares to claim holders.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders, including directors, officers, and principal stockholders.

Stakeholder Impact

• The distribution of shares to claim holders impacts shareholders by increasing the number of outstanding shares.

Key Dates