Form 4: Northern Oil & Gas President Adam Dirlam Sells Shares Under 10b5-1 Trading Plan

Adam Dirlam, President of Northern Oil & Gas, sold shares of common stock on July 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 1, 2024, Adam A. Dirlam, President of Northern Oil & Gas, Inc. (NOG), sold 1,392 shares of common stock at a weighted average price of $37.875, with prices ranging from $37.75 to $38.00.
• Additionally, Dirlam's spouse sold 204 shares at a weighted average price of $37.875, with prices ranging from $37.75 to $38.00.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on June 21, 2023.
• Following the reported transactions, Dirlam directly owns 107,628 shares and indirectly owns 17,727 shares through his spouse.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an executive. The use of a 10b5-1 plan suggests the sales were pre-planned and not indicative of negative sentiment.

Industry Context

Sales by company executives are a normal part of corporate governance. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any inside information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates