Form 4: Newpark Resources Executive Paterson Reports Stock Transactions
SEC Form 4
David A. Paterson, VP & President of Fluids Systems at Newpark Resources, reports the vesting and conversion of restricted stock units into common stock, along with associated tax withholding.
Summary
- On June 1, 2024, David A. Paterson, VP & President, Fluids Systems at Newpark Resources, reported transactions involving restricted stock units.
- He converted 35,788, 30,620, and 28,235 restricted stock units into common stock.
- Shares were also withheld to cover tax obligations related to the vesting of these units, specifically 7,455, 8,714, and 8,008 shares at a price of $8.48.
- Following these transactions, Paterson directly owns 386,245 shares of Newpark Resources common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The restricted stock units vest in increments of one-third of the shares on June 1 of each subsequent year after grant.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the vesting of previously granted compensation.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | Date of earliest transaction: conversion of restricted stock units and tax withholding. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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