Form 4: Matador Resources Co: Executive William Thomas Elsener Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
William Thomas Elsener, EVP of Reservoir Engineering at Matador Resources Co, reports withholding of shares to cover tax liabilities upon vesting of restricted stock.
Summary
- On June 4, 2024, William Thomas Elsener, EVP of Reservoir Engineering at Matador Resources Co, had 1,640 shares of common stock withheld by the issuer to cover tax liabilities.
- This withholding occurred in connection with the vesting of 4,167 shares of restricted stock granted on June 4, 2021.
- The price per share for the withholding was $59.21.
- Following the transaction, Elsener beneficially owns 101,438 shares, which includes shares acquired through the Employee Stock Purchase Plan and restricted stock grants from February 2022 and February 2023.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects a standard transaction related to executive compensation and tax obligations. It doesn't indicate any significant positive or negative developments for the company.
Positives
- The reporting person's continued holding of a significant number of shares (101,438) indicates confidence in the company.
- Participation in the Employee Stock Purchase Plan suggests a positive outlook on the company's future.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's stock.
Comparison to Industry Standards
- Executive compensation packages in the oil and gas industry often include restricted stock units (RSUs) that vest over time.
- The vesting schedules and tax implications are standard components of these compensation plans.
- Companies like EOG Resources, Pioneer Natural Resources, and Devon Energy also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- Shareholders may be interested in executive compensation practices and insider transactions.
- Employees participating in the Employee Stock Purchase Plan are indirectly affected by the company's stock performance.
Key Dates
| Date | Description |
|---|---|
| 06/04/2021 | Date of original restricted stock grant (4,167 shares) that vested. |
| 02/17/2022 | Date of restricted stock grant (3,880 shares) vesting on the third anniversary. |
| 02/16/2023 | Date of restricted stock grant (5,334 shares) vesting in equal installments on the second and third anniversaries. |
| 06/04/2024 | Date of transaction: shares withheld for tax liability. |
| 06/06/2024 | Date of Form 4 filing. |
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