Form 4: Matador Resources Co: Executive William Thomas Elsener Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP William Thomas Elsener reports transactions involving Matador Resources Co. stock, including share withholding for tax liabilities and vesting of phantom units.
Summary
- William Thomas Elsener, EVP of Reservoir Engineering at Matador Resources Co., filed a Form 4 detailing changes in beneficial ownership.
- On February 16, 2025, 1,050 shares were withheld by the issuer to cover tax liabilities upon vesting of restricted stock granted on February 16, 2023, at a price of $57.19 per share.
- On February 17, 2025, 1,527 shares were withheld for tax liabilities related to restricted stock granted on February 17, 2022, also at $57.19 per share.
- Elsener's holdings include shares acquired through the Employee Stock Purchase Plan and restricted stock grants.
- He also reported the vesting and settlement of 5,000 phantom units on February 14, 2025, for cash at $57.12 per unit, based on the closing price of Matador's common stock on February 13, 2025.
- Following these transactions, Elsener beneficially owns 108,747 shares of common stock and 10,000 phantom units.
Sentiment
Score: 6
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Positives
- The reporting person's continued holding of a significant number of shares and phantom units indicates a continued alignment with the company's performance.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages in the oil and gas industry often include restricted stock and phantom units to align executive interests with shareholder value.
- Tax withholding practices related to vesting equity are standard across publicly traded companies.
- The vesting schedules and settlement terms of phantom units are generally comparable to those offered by peer companies in the energy sector.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and tax obligations.
- Employees participating in the Employee Stock Purchase Plan are indirectly affected by the reported transactions.
Key Dates
| Date | Description |
|---|---|
| February 17, 2022 | Date of grant for 3,880 shares of restricted stock that vest on the third anniversary of the date of grant. |
| February 16, 2023 | Date of grant for 2,667 shares of restricted stock that vest on the third anniversary of the date of grant. |
| February 14, 2024 | The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant. |
| February 13, 2025 | Closing price of the Issuer's common stock used to settle phantom units. |
| February 14, 2025 | Partial vesting of phantom units and settlement for cash. |
| February 16, 2025 | Withholding of 1,050 shares for tax liabilities. |
| February 17, 2025 | Withholding of 1,527 shares for tax liabilities. |
| February 19, 2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, beneficial ownership, Matador Resources Co, MTDR, restricted stock, phantom units, tax withholding, insider trading
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