Form 4: Nine Energy Service CFO Sells Shares to Cover Tax Obligations

Guy Sirkes, CFO of Nine Energy Service, sold shares to cover tax obligations related to vesting restricted stock.

Summary

• Guy Sirkes, the Senior Vice President and Chief Financial Officer of Nine Energy Service, Inc. [NINE], sold shares of common stock on May 9 and May 10, 2024.
• The sales were non-discretionary and intended to satisfy tax withholding obligations related to the vesting of a time-based restricted stock award granted on May 9, 2023.
• On May 9, 2024, 3,987 shares were sold at a price of $1.974 per share.
• On May 10, 2024, 11,532 shares were sold at a price of $1.98 per share.
• Following these transactions, Sirkes directly owns 206,265 shares of Nine Energy Service, Inc.

Sentiment

Score: 6

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales for tax purposes. It doesn't inherently convey positive or negative sentiment, but the lack of significant insider buying might be slightly neutral.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock are a routine occurrence for corporate executives.

Stakeholder Impact

• The stock sales could have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the relatively small number of shares involved.

Key Dates