Form 4: Matador Resources Executive Reports Stock Transactions
SEC Form 4 Filing
Robert T. Macalik, EVP and Chief Accounting Officer of Matador Resources, reports the withholding of shares to cover tax liabilities and discloses holdings in company stock and an IRA.
Summary
- Robert T. Macalik, EVP and Chief Accounting Officer of Matador Resources Co, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On June 4, 2024, 1,640 shares of common stock were withheld by the issuer to cover tax liabilities upon the vesting of 4,167 shares of restricted stock granted on June 4, 2021, at a price of $59.21 per share.
- Following the transaction, Macalik directly owns 104,290 shares of Matador Resources Co.
- Macalik also indirectly owns 28,800 shares through an Individual Retirement Account.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
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 often include restricted stock units (RSUs) that vest over time.
- The vesting schedules and tax withholding practices described in the document are typical for companies in the oil and gas industry, such as ExxonMobil, Chevron, and ConocoPhillips.
- These companies also use similar equity-based compensation to align executive interests with shareholder value.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to routine tax obligations of an executive.
- The filing provides transparency to stakeholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 06/04/2021 | Date of grant for 4,167 shares of restricted stock that vested. |
| 02/17/2022 | Date of grant for 3,880 shares of restricted stock that vest on the third anniversary of the date of grant. |
| 02/16/2023 | Date of grant for 5,334 shares of restricted stock that vest in equal installments on the second and third anniversaries of the date of grant. |
| 02/14/2024 | Date of grant for 10,000 shares of restricted stock that vest in equal installments on the first, second and third anniversaries of the date of grant. |
| 06/04/2024 | Date of transaction where 1,640 shares were withheld for tax liabilities. |
| 06/06/2024 | Date of signature for the Form 4 filing. |
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