Form 4: Matador Resources Co: Executive Officer Reports Share Withholding for Tax Obligations
SEC Form 4
Christopher P. Calvert, EVP and COO of Matador Resources, reports withholding of 1,640 shares to cover tax liabilities upon vesting of restricted stock.
Summary
- On June 4, 2024, Christopher P. Calvert, EVP and COO of Matador Resources Co, had 1,640 shares of common stock withheld by the issuer to cover tax liabilities.
- This withholding was related to the vesting of 4,167 shares of restricted stock granted on June 4, 2021.
- No shares were sold by the reporting person to satisfy this tax liability.
- Following the transaction, Calvert directly owns 80,596 shares of common stock and indirectly owns 30,700 shares through his 401(k) account.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It provides transparency into insider transactions but doesn't necessarily indicate a change in the company's overall financial health or strategic direction.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock and share withholding for tax purposes, are standard across the oil and gas industry.
- Companies like EOG Resources, Pioneer Natural Resources, and Devon Energy also utilize similar compensation structures for their executives.
- The specific number of shares and vesting schedules vary based on company size, performance, and individual executive agreements.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a standard procedure related to executive compensation.
- Employees may be indirectly affected by the company's overall performance, which can influence the value of their stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| 06/04/2021 | Date of grant for 4,167 shares of restricted stock that vested. |
| 02/17/2022 | Date of grant for 3,880 shares of restricted stock that vest on the third anniversary of the date of grant. |
| 02/16/2023 | Date of grant for 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 | Date of grant for 10,000 shares of restricted stock that vest in equal annual installments on the first, second and third anniversaries of the date of grant. |
| 06/04/2024 | Date of transaction: 1,640 shares withheld for tax liability. |
| 06/06/2024 | Date of signature for the Form 4 filing. |
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