Form 4: Matador Resources Executive Glenn Stetson Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Glenn Stetson, EVP-Production at Matador Resources, reports withholding of shares to cover tax liabilities upon vesting of restricted stock.
Summary
- On June 4, 2024, Glenn Stetson, EVP-Production at Matador Resources, 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, Stetson beneficially owns 84,709 shares of Matador Resources common stock.
- These holdings include shares acquired through the Employee Stock Purchase Plan and restricted stock grants from February 17, 2022, February 16, 2023, and February 14, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction, so the sentiment is neutral.
Positives
- The reporting person's holdings include shares acquired through the Employee Stock Purchase Plan, indicating participation in the company's equity.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine tax-related share withholding.
Key Dates
| Date | Description |
|---|---|
| 06/04/2021 | Date of restricted stock grant related to the tax withholding. |
| 02/17/2022 | Date of restricted stock grant that vests on the third anniversary of the date of grant. |
| 02/16/2023 | Date of restricted stock grant that vests in equal annual installments on the second and third anniversaries of the date of grant. |
| 02/14/2024 | Date of restricted stock grant that vests in equal annual installments on the first, second and third anniversaries of the date of grant. |
| 06/04/2024 | Date of the transaction (share withholding for tax liability). |
| 06/06/2024 | Date of the Form 4 filing. |
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