Form 4: Matador Resources Co: Officer Singleton Reports Phantom Unit Transactions
SEC Form 4
Van H. Singleton II, President-Land, A&D, Planning at Matador Resources Co, reports the acquisition and disposition of phantom units related to vested awards, settled for cash based on the company's stock price.
Summary
- On February 14, 2025, Van H. Singleton II acquired 20,000 phantom units.
- On February 14, 2025, Singleton settled 5,000 phantom units for cash at $57.12 per unit.
- On February 16, 2025, Singleton settled 5,000 phantom units for cash at $57.19 per unit.
- On February 17, 2025, Singleton settled 8,046 phantom units for cash at $57.19 per unit.
- These transactions involved phantom units vesting in annual installments from grants made in previous years.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects the vesting and settlement of previously granted equity-based awards.
Comparison to Industry Standards
- Many oil and gas companies use phantom stock or unit programs as part of their executive compensation packages.
- The vesting schedules and settlement terms described are fairly standard compared to similar programs at companies like Devon Energy, EOG Resources, and Pioneer Natural Resources.
- The cash settlement based on the stock price is a common mechanism to provide executives with the economic benefit of stock ownership without issuing actual shares.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as no new shares were issued.
- The cash settlement to the executive is part of the company's compensation expense.
Key Dates
| Date | Description |
|---|---|
| 02/16/2023 | Date of grant for some of the phantom units settled on February 16, 2025. |
| 02/17/2022 | Date of grant for some of the phantom units settled on February 17, 2025. |
| 02/14/2024 | Date of grant for some of the phantom units settled on February 14, 2025. |
| 02/13/2025 | Date used to determine the cash settlement price ($57.12) for phantom units settled on February 14, 2025. |
| 02/14/2025 | Date of acquisition of 20,000 phantom units and date used to determine the cash settlement price ($57.19) for phantom units settled on February 16 and 17, 2025. |
| 02/14/2025 | Date of partial vesting and settlement of phantom units for cash. |
| 02/16/2025 | Date of partial vesting and settlement of phantom units for cash. |
| 02/17/2025 | Date of partial vesting and settlement of phantom units for cash. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, phantom units, Matador Resources Co, MTDR, insider trading, Van H. Singleton II, officer, settlement, vesting
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