Form 4: Nine Energy Service Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Luz S. Brett, Chief Accounting Officer of Nine Energy Service, Inc., sold shares to cover tax obligations related to vesting restricted stock.
Summary
- On August 12, 2024, Luz S. Brett, the Chief Accounting Officer of Nine Energy Service, Inc., sold 2,894 shares of common stock at a price of $1.358 per share.
- The sale was non-discretionary and intended to satisfy tax withholding obligations related to the vesting of a time-based restricted stock award granted on August 9, 2021.
- Following the transaction, Brett directly owns 99,269 shares of Nine Energy Service, Inc.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine stock sale for tax purposes; it doesn't inherently convey positive or negative sentiment.
Industry Context
This is a routine Form 4 filing, indicating insider activity related to stock compensation and tax obligations, which is common among publicly traded companies.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder perception, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 08/09/2021 | Date of the time-based restricted stock award grant. |
| 08/12/2024 | Date of the stock sale transaction. |
| 08/13/2024 | Date of signature on the Form 4 filing. |
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