Form 4: Frontier TopCo Partnership Sells and Kodiak Gas Services Repurchases Shares in Rule 144 Transaction

Frontier TopCo Partnership, a 10% owner of Kodiak Gas Services, sold 3,222,338 shares of common stock at $36.015 per share, while Kodiak Gas Services repurchased 277,662 shares at the same price.

Summary

• On May 12, 2025, Frontier TopCo Partnership, L.P. sold 3,222,338 shares of Kodiak Gas Services, Inc. common stock.
• The sale was conducted through J.P. Morgan Securities LLC under Rule 144 of the Securities Act of 1933.
• The price per share was $36.015, after broker discounts.
• Concurrently, Kodiak Gas Services repurchased 277,662 shares at the same price.
• Following the transactions, Frontier TopCo Partnership, L.P. indirectly holds 31,271,323 shares.
• EQT Fund Management S.a r.l. may be deemed to have beneficial ownership of the securities held by Kodiak Holdings due to its management role.

Sentiment

Score: 5

Explanation: The document describes a routine transaction involving the sale of shares by a major holder and a concurrent repurchase by the company. It doesn't contain overtly positive or negative information.

Industry Context

Share sales by major holders and subsequent company repurchases are common strategies to manage equity positions and potentially provide support for the stock price. Rule 144 allows for the sale of restricted and control securities to the public.

Stakeholder Impact

• Shareholders may be impacted by the change in ownership structure.
• The repurchase could provide some support to the stock price.

Key Dates

Keywords

Kodiak Gas Services, Frontier TopCo Partnership, Rule 144, Share Sale, Repurchase, Beneficial Ownership, EQT Fund Management, KGS