Form 4: Magnolia Oil & Gas Corp: SVP Operations Steve Millican Reports Stock Disposal
SEC Form 4
Steve Millican, SVP Operations at Magnolia Oil & Gas Corp, reports the disposal of 29,096 shares of Class A Common Stock to cover tax obligations.
Summary
- On March 1, 2024, Steve Millican, SVP Operations at Magnolia Oil & Gas Corporation, disposed of 29,096 shares of Class A Common Stock.
- The transaction was executed at a price of $23 per share.
- Following the transaction, Millican directly owns 328,820 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a stock disposal. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders (officers, directors, or those holding more than 10% of the company's shares) buy or sell the company's securities. This provides transparency to the market regarding insider transactions.
Stakeholder Impact
- The disposal of shares by an insider could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Disposal of Class A Common Stock |
| 03/05/2024 | Date of signature on the Form 4 filing |
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