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

David Crombie, Executive Vice President and COO of Nine Energy Service, sold 7,071 shares of common stock to cover tax withholding obligations related to vesting restricted stock.

Summary

• On May 3, 2024, David Crombie, Executive Vice President and Chief Operating Officer of Nine Energy Service, sold 7,071 shares of common stock.
• The sale was executed at a price of $2.25 per share.
• This transaction was a non-discretionary sale to satisfy tax withholding obligations related to the vesting of a time-based restricted stock award granted on May 3, 2022.
• Following the transaction, Crombie directly owns 202,004 shares of Nine Energy Service, Inc.

Sentiment

Score: 6

Explanation: The document is neutral. It simply reports a transaction related to tax obligations, which is a routine event.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, especially when it's explicitly stated to cover tax obligations.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates