Form 4: Matador Resources CEO Settles Phantom Units for Cash
SEC Form 4
CEO Joseph Wm Foran settled phantom units of Matador Resources Co for cash, as per the terms of the award, following partial vesting.
Summary
- Joseph Wm Foran, Chairman and CEO of Matador Resources Co, settled phantom units for cash.
- The transactions occurred on February 14, 2025, February 16, 2025, and February 17, 2025.
- These settlements were related to the partial vesting of phantom unit awards.
- The settlement prices were $57.12 and $57.19 per unit, based on the closing price of Matador Resources' common stock on February 13, 2025, and February 14, 2025, respectively.
- No shares of common stock were issued or sold as part of these transactions.
- Following these transactions, Foran directly owns 40,000 phantom units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive compensation, and does not contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for companies that utilize phantom stock or similar equity-based compensation plans.
Comparison to Industry Standards
- Many oil and gas companies use phantom stock units as part of their executive compensation packages.
- The vesting schedules and settlement terms are generally comparable to industry standards, often tied to performance metrics and continued employment.
- Companies like Pioneer Natural Resources and Devon Energy also utilize similar equity compensation structures.
Stakeholder Impact
- The settlement of phantom units has a minor dilutive effect on existing shareholders, but is part of the overall compensation structure designed to align management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/16/2023 | Grant date for some of the phantom units that vested on February 16, 2025. |
| 02/17/2022 | Grant date for some of the phantom units that vested on February 17, 2025. |
| 02/14/2024 | Grant date for some of the phantom units that vested on February 14, 2025. |
| 02/13/2025 | Closing price of MTDR common stock used to determine settlement price for some units. |
| 02/14/2025 | Date of partial vesting and settlement of 10,000 phantom units. |
| 02/14/2025 | Closing price of MTDR common stock used to determine settlement price for some units. |
| 02/16/2025 | Date of partial vesting and settlement of 10,000 phantom units. |
| 02/17/2025 | Date of partial vesting and settlement of 16,811 phantom units. |
| 02/19/2025 | Date of Form 4 filing. |
Keywords
phantom units, Matador Resources, Form 4, CEO, settlement, vesting, MTDR, Foran
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