Form 4: Matador Resources Executive Settles Phantom Units for Cash
SEC Form 4 Filing
Van H. Singleton, II, President-Land, A&D, Planning at Matador Resources Co, settled phantom units for cash following partial vesting of the award.
Summary
- On June 4, 2024, Van H. Singleton, II, an officer of Matador Resources Co, settled 8,334 phantom units for cash.
- The settlement occurred upon the partial vesting of the award.
- The cash settlement was based on a rate of $59.21 per unit, which was the closing price of Matador Resources Co's common stock on June 3, 2024.
- No shares of common stock were issued or sold as part of this transaction.
- The phantom units vest in equal annual installments on the first, second, and third anniversaries of the grant date, June 4, 2021.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation, 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.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the settlement of phantom units for cash, which is part of the executive compensation plan.
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 Co's common stock used to determine the cash settlement rate ($59.21 per unit). |
| 06/04/2024 | Date of the transaction where Van H. Singleton, II, settled 8,334 phantom units for cash. |
| 06/06/2024 | Date of the Form 4 filing. |
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