Form 4: Matador Resources Executive Settles Phantom Units for Cash
SEC Form 4 Filing
George G. Krug, EVP of Marketing and Midstream at Matador Resources, settled phantom units for cash following partial vesting on June 4, 2024.
Summary
- On June 4, 2024, George G. Krug, EVP of Marketing and Midstream at Matador Resources Co, settled phantom units for cash.
- The settlement occurred upon the partial vesting of the award.
- Krug settled 8,334 phantom units at a rate of $59.21 per unit, based on the closing price of Matador Resources' common stock on June 3, 2024.
- No shares of common stock were issued or sold as part of this transaction.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to executive compensation, with no inherent positive or negative sentiment.
Industry Context
Executive compensation practices, including the use of phantom units, are common in the oil and gas industry to align management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 06/04/2021 | Date of grant for the phantom units, which vest in equal annual installments on the first, second, and third anniversaries. |
| 06/03/2024 | Closing price of Matador Resources' common stock used to determine the cash settlement rate. |
| 06/04/2024 | Date of the transaction where phantom units were settled for cash. |
| 06/06/2024 | Date of the Form 4 filing. |
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