Form 4: Matador Resources Co: EVP-Production Glenn W. Stetson Reports Share Transactions
SEC Form 4 Filing
Glenn W. Stetson, EVP-Production at Matador Resources Co, reports the withholding of shares by the issuer to cover tax liabilities upon vesting of restricted stock, as well as the acquisition of phantom units.
Summary
- Glenn W. Stetson, EVP-Production at Matador Resources Co, filed a Form 4 detailing changes in beneficial ownership.
- The report covers transactions occurring between February 14, 2025, and February 17, 2025.
- These transactions primarily involve the withholding of common stock by Matador Resources to cover tax liabilities associated with the vesting of restricted stock.
- No shares were sold by the reporting person to satisfy tax liabilities.
- Stetson also acquired 18,000 phantom units on February 14, 2025, which are the economic equivalent of one share of common stock each and vest in equal annual installments over three years.
- Following these transactions, Stetson directly owns 90,680 shares of common stock and 18,000 phantom units.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations, without indicating any significant positive or negative developments.
Positives
- The reporting person acquired 18,000 phantom units, indicating a continued alignment with the company's performance.
- The reporting person continues to hold a significant number of shares, showing a vested interest in the company's success.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and alignment with shareholder interests.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in the oil and gas industry, similar to how investors track filings for companies like EOG Resources or Pioneer Natural Resources.
- The vesting schedules and equity compensation structures are typical for executive compensation packages in the energy sector.
Stakeholder Impact
- Shareholders are informed about insider transactions, promoting transparency.
- Employees participating in the Employee Stock Purchase Plan are indirectly affected by the overall share activity.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Date of grant for 3,880 shares of restricted stock vesting on the third anniversary. |
| 02/16/2023 | Date of grant for 5,334 shares of restricted stock vesting in equal annual installments on the second and third anniversaries. |
| 02/16/2023 | Date of grant for 2,667 shares of restricted stock vesting on the third anniversary. |
| 02/14/2024 | Date of grant for 6,667 shares of restricted stock vesting in equal annual installments on the second and third anniversaries. |
| 02/14/2025 | Transaction date: Withholding of 1,312 shares for tax liability and acquisition of 18,000 phantom units. |
| 02/16/2025 | Transaction date: Withholding of 1,050 shares for tax liability. |
| 02/17/2025 | Transaction date: Withholding of 1,527 shares for tax liability. |
| 02/19/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Matador Resources, MTDR, Stetson, Restricted Stock, Phantom Units, Tax Liability, Vesting
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