Form 4: Kinetik Holdings Executive Todd Carpenter Reports Share Transactions and Incentive Awards

Kinetik Holdings executive Todd Carpenter received shares in lieu of cash for an incentive award and had shares withheld for tax obligations, according to a recent SEC filing.

Summary

• Todd Carpenter, an executive at Kinetik Holdings, received 7,073 shares of Class A Common Stock as part of his 2024 annual incentive award, in lieu of a cash payment.
• Additionally, 844 shares were acquired through the company's Dividend and Distribution Reinvestment Plan, which were not previously reported.
• 2,784 shares were withheld by the company to cover tax liabilities related to the annual incentive award.
• Carpenter also received 885 dividend equivalent shares related to Performance Share Units (PSUs).
• These dividend equivalent shares will be paid out in Class A Common Stock when the underlying PSUs vest.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and does not indicate any significant positive or negative events. The sentiment is neutral to slightly positive due to the incentive award.

Positives

• The award of shares in lieu of cash for the annual incentive award indicates a positive performance evaluation for the executive.
• The dividend reinvestment plan allows for the accumulation of additional shares over time.

Negatives

• The withholding of 2,784 shares for tax obligations reduces the total number of shares directly held by the executive.

Risks

• The value of the shares is subject to market fluctuations, which could impact the overall value of the incentive award.
• The vesting of the Performance Share Units is subject to the terms and conditions of the company's compensation plan.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Management Comments

• Todd Carpenter, General Counsel, Assistant Secretary, and Chief Compliance Officer, signed the SEC Form 4.

Industry Context

This filing is a routine disclosure of executive compensation and share transactions, which is common in publicly traded companies. It provides transparency into the ownership changes of company insiders.

Comparison to Industry Standards

• The use of stock awards and performance share units is a common practice in executive compensation packages across various industries.
• Dividend reinvestment plans are also a standard offering for shareholders in many publicly traded companies.
• The tax withholding of shares is a standard procedure to cover tax liabilities associated with stock-based compensation.

Stakeholder Impact

• The share transactions have a minor impact on the overall shareholding structure of the company.
• The incentive award aligns the executive's interests with those of the shareholders.

Key Dates

Keywords

Kinetik Holdings, Todd Carpenter, SEC Form 4, Incentive Award, Class A Common Stock, Performance Share Units, Dividend Reinvestment, Executive Compensation, Share Transactions