Form 4: Helix Energy Solutions EVP & CFO Erik Staffeldt Executes Performance Share Units, Sells Shares for Tax Obligations
SEC Form 4 Filing
Erik Staffeldt, EVP & CFO of Helix Energy Solutions, executed performance share units and sold shares to cover tax obligations on March 6, 2024.
Summary
- On March 6, 2024, Erik Staffeldt, the EVP & CFO of Helix Energy Solutions Group Inc., executed 193,931 Performance Share Units (PSUs) that were granted on January 4, 2021.
- These PSUs represented the contingent right to receive one share of Helix Energy Solutions common stock each.
- The actual number of shares that vested was dependent on the company's performance over a three-year period from January 1, 2021, to December 31, 2023, with the amount earned and vested being 181% of the number of PSUs granted.
- Staffeldt also disposed of 76,312 shares of common stock at a price of $10.28 to satisfy tax obligations related to the vesting of the PSUs.
- Following these transactions, Staffeldt beneficially owns 450,999 shares of Helix Energy Solutions common stock.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Helix Energy Solutions. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity and a small sale of shares by an executive.
- The transaction has no impact on employees, customers, suppliers or creditors.
Key Dates
| Date | Description |
|---|---|
| 2021-01-04 | Date the Performance Share Units (2021 PSU) were granted. |
| 2021-01-01 | Start date of the three-year performance period for the 2021 PSUs. |
| 2023-12-31 | End date of the three-year performance period for the 2021 PSUs. |
| 2024-03-06 | Date of the transaction involving the execution of PSUs and disposal of shares. |
| 2024-03-08 | Date of signature on the Form 4 filing. |
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