Form 4: Matador Resources Director Baty Receives Restricted Stock Units
SEC Form 4 Filing
Director Robert Gaines Baty of Matador Resources Co. was granted 2,533 restricted stock units on June 13, 2024, according to a recent SEC filing.
Summary
- Robert Gaines Baty, a director of Matador Resources Co., received 2,533 restricted stock units (RSUs) on June 13, 2024.
- These RSUs will vest on June 13, 2025, or earlier if the election of director nominees occurs sooner at the 2025 annual meeting of shareholders.
- Baty has deferred the delivery of these vested RSUs under the Issuer's Nonqualified Deferred Compensation Plan for Non-Employee Directors.
- The RSUs will be delivered as an equal number of shares of common stock within 30 days of either separation of service or a change in control.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as it reflects standard compensation practices for directors, aligning their interests with shareholders.
Positives
- The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing performance and long-term value creation.
Future Outlook
The vested RSUs will be deliverable to the reporting person in an equal number of shares of common stock within 30 days of the earlier of (i) separation of service or (ii) a change in control.
Industry Context
This type of equity compensation is common for directors of publicly traded companies to align their interests with shareholders.
Comparison to Industry Standards
- Granting restricted stock units to directors is a standard practice in the oil and gas industry, similar to compensation packages offered by companies like EOG Resources and Pioneer Natural Resources.
- The vesting schedule of one year is fairly typical, aligning with industry norms for director compensation.
Stakeholder Impact
- Shareholders may view this as a positive sign, as it aligns the director's interests with the company's long-term success.
- Employees may see this as a standard practice for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 06/13/2024 | Date of transaction: Robert Gaines Baty received 2,533 restricted stock units. |
| 06/13/2025 | Vesting date of the restricted stock units, or earlier if the election of director nominees occurs sooner at the 2025 annual meeting of shareholders. |
| 06/17/2024 | Date of signature on the SEC Form 4 filing. |
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