Form 4: Newpark Resources VP Exercises Stock Options, Sells Shares for Tax Obligations
SEC Form 4
Mary Celeste Fruge, VP and General Counsel of Newpark Resources, exercised restricted stock units and sold shares to cover tax obligations on June 1, 2024.
Summary
- On June 1, 2024, Mary Celeste Fruge, VP and General Counsel of Newpark Resources, exercised 17,274 restricted stock units, converting them into common stock.
- Following the exercise, Fruge sold a total of 19,913 shares (6,820 + 6,797 + 6,296) of common stock at a price of $8.48 per share to satisfy tax withholding obligations.
- After these transactions, Fruge directly owns 225,606 shares of Newpark Resources common stock.
- Fruge also holds 34,548 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to executive compensation and tax obligations, with no significant positive or negative implications.
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 is a routine Form 4 filing related to executive compensation and does not indicate any specific trend in the industry.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | Date of transaction: exercise of restricted stock units and sale of shares. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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