Form 4: Nine Energy Service: Officer Luz S. Brett Sells Shares to Cover Tax Obligations

Luz S. Brett, Chief Accounting Officer of Nine Energy Service, Inc., sold 1,436 shares of common stock to satisfy tax withholding obligations related to a restricted stock award.

Summary

• On May 3, 2024, Luz S. Brett, the Chief Accounting Officer of Nine Energy Service, Inc. (NINE), sold 1,436 shares of the company's common stock.
• The sale was executed at a price of $2.25 per share.
• This transaction was a non-discretionary sale to cover tax withholding obligations associated with the vesting of a time-based restricted stock award granted on May 3, 2022.
• Following the transaction, Brett directly owns 77,876 shares of Nine Energy Service, Inc.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (sale of shares for tax obligations) by an officer, which is neither particularly positive nor negative. It's a neutral event in the context of investment analysis.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and are generally not indicative of a negative outlook on the company's future performance.

Stakeholder Impact

• The sale of shares by an officer could have a minor, temporary impact on shareholder sentiment.

Key Dates