Form 4: Dril-Quip Director Willis Receives Stock Award in Lieu of Quarterly Fees

Director Darryl Keith Willis acquired 1,040 shares of Dril-Quip Inc. stock on April 1, 2024, as a restricted stock award in lieu of quarterly fees for board service.

Summary

• On April 1, 2024, Darryl Keith Willis, a director of Dril-Quip Inc. (DRQ), acquired 1,040 shares of common stock.
• The acquisition was a restricted stock award granted under the company's 2017 Omnibus Incentive Plan.
• The stock was received in lieu of quarterly fees for Willis's service on the Board of Directors and its committees.
• The price of the stock was $0 as it was a restricted stock award.
• Following the transaction, Willis directly owns 29,554 shares of Dril-Quip Inc.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects a standard compensation practice of granting stock awards to directors.

Positives

• The director's increased stake in the company may signal confidence in Dril-Quip's future performance.

Industry Context

Directors receiving stock awards is a common practice to align their interests with those of shareholders.

Stakeholder Impact

• The stock award aligns the director's interests with those of shareholders.

Key Dates