Form 4: Matador Resources Co: EVP and COO Christopher Calvert Reports Changes in Beneficial Ownership
SEC Form 4
Christopher Calvert, EVP and COO of Matador Resources Co, reports changes in beneficial ownership of common stock due to tax liability settlements and vesting of restricted stock.
Summary
- On February 14, 2025, Christopher Calvert, EVP and COO of Matador Resources Co, had 1,312 common shares withheld by the issuer at $57.12 per share to cover tax liabilities from vesting restricted stock, resulting in a holding of 87,870 shares.
- On February 16, 2025, 1,050 shares were withheld at $57.19 per share for tax liabilities, leaving a balance of 86,820 shares.
- On February 17, 2025, a further 1,527 shares were withheld at $57.19 per share for tax liabilities, resulting in a holding of 85,293 shares.
- Calvert also holds 32,700 shares indirectly through a 401(k) account.
- Additionally, Calvert acquired 18,000 phantom units on February 14, 2025, which are the economic equivalent of common stock and vest annually over three years.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about transactions.
Positives
- The acquisition of 18,000 phantom units indicates a continued alignment of Calvert's interests with the company's performance.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure of insider transactions, which is common in the oil and gas industry. Executive compensation often includes stock options and restricted stock units, leading to regular Form 4 filings when these vest or are exercised.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units and phantom stock, are common across the oil and gas industry.
- Companies like EOG Resources, Pioneer Natural Resources, and Devon Energy also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and tax withholding practices described in the document are generally consistent with industry norms.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in insider ownership, but the overall effect is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Grant date of 3,880 shares of restricted stock that vest on the third anniversary of the date of grant. |
| 02/16/2023 | Grant date of 5,334 shares of restricted stock that vest in equal annual installments on the second and third anniversaries of the date of grant. |
| 02/14/2024 | Grant date of 6,667 shares of restricted stock that vest in equal annual installments on the second and third anniversaries of the date of grant. |
| 02/14/2025 | Shares withheld for tax liability; phantom units acquired. |
| 02/16/2025 | Shares withheld for tax liability. |
| 02/17/2025 | Shares withheld for tax liability. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
Keywords
beneficial ownership, Form 4, Matador Resources Co, MTDR, Christopher Calvert, EVP, COO, restricted stock, phantom units, tax liability, insider trading
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