Form 4: OPAL Fuels Executive Receives Stock Awards

Sentiment:

Insider Transaction Report 2 April 2026 4:40 PM

Darrell Birck, Executive Vice President at OPAL Fuels Inc., reported transactions involving restricted stock units and stock options, indicating equity grants and settlements.

Summary

Darrell Birck, Executive Vice President at OPAL Fuels Inc., has reported transactions related to his beneficial ownership of the company's Class A common stock.
These transactions include the settlement of restricted stock units (RSUs) and the grant of new RSUs and stock options.
On March 31, 2026, 36,708 RSUs vested and settled into Class A common stock. Additionally, 8,938 shares were withheld by the company to cover tax obligations related to this vesting, at a price of $2.52 per share.
New grants on March 31, 2026, include 111,576 RSUs scheduled to vest in three equal installments on March 31, 2027, March 31, 2028, and March 31, 2029.
Also on March 31, 2026, a stock option was granted to purchase 62,326 shares of Class A common stock at an exercise price of $2.52 per share. This option vests in three equal installments on March 31, 2027, March 31, 2028, and March 31, 2029.
The exercise price for the stock option was based on the volume-weighted average price of OPAL Fuels' Class A common stock for the five days preceding March 31, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports on routine executive equity awards and vesting, which are standard corporate actions and do not inherently signal significant positive or negative developments.

Positives

Grant of new restricted stock units and stock options to an executive, indicating continued investment in employee incentives and retention.
Vesting of restricted stock units, demonstrating the achievement of performance or time-based vesting conditions.
The stock option exercise price is set at $2.52, which is the volume-weighted average price, aligning with market conditions at the time of grant.

Negatives

A portion of the vested restricted stock units (8,938 shares) were withheld by the company to satisfy tax obligations, reducing the net shares received by the executive.
The filing details equity awards, which can dilute existing shareholder value if not managed effectively.

Risks

Vesting of stock options and RSUs is contingent upon the reporting person continuing to provide services to the issuer, implying a risk of forfeiture if employment is terminated.
Provisions for accelerated vesting of stock options in the event of termination without cause, resignation for good reason, disability, or death, could lead to unexpected equity payouts.
A 'Change in Control' event could trigger full acceleration of unvested stock options, potentially leading to significant equity realization for the executive.

Future Outlook

The filing details future vesting schedules for granted RSUs and stock options, with installments occurring annually through March 31, 2029. These awards are contingent on continued service.

Industry Context

StockSavvy.ai notes that the issuance of stock options and RSUs is a common practice in the energy sector, particularly for growth-oriented companies like OPAL Fuels, to attract and retain key talent and align executive interests with shareholder value.

Stakeholder Impact

Shareholders: The issuance of new equity awards may lead to dilution if not offset by company performance or share buybacks. Vesting of options could increase the number of shares outstanding upon exercise.
Employees: The filing highlights the company's use of equity-based compensation, which can be a motivator for executives and potentially other employees.
Management: Darrell Birck benefits from these equity awards, which are designed to incentivize performance and retention.

Next Steps

Vesting of RSUs and stock options according to the scheduled dates (March 31, 2027, 2028, 2029).
Potential exercise of stock options by Darrell Birck upon vesting or under specific termination conditions.
Continued service by Darrell Birck to meet vesting requirements for outstanding equity awards.

Key Dates

Date	Description
03/31/2025	Grant date of 110,122 restricted stock units that were scheduled to vest in three installments starting March 31, 2026.
03/31/2026	Date of earliest transaction reported; settlement of 36,708 RSUs, withholding of 8,938 shares for taxes, and grant of 111,576 RSUs and stock options for 62,326 shares.
03/31/2026	Vesting date for the first installment of RSUs granted on March 31, 2025.
03/31/2027	Scheduled vesting date for the first installment of RSUs granted on March 31, 2026, and the first installment of stock options granted on March 31, 2026.
03/31/2028	Scheduled vesting date for the second installment of RSUs granted on March 31, 2026, and the second installment of stock options granted on March 31, 2026.
03/31/2029	Scheduled vesting date for the third installment of RSUs granted on March 31, 2026, and the third installment of stock options granted on March 31, 2026.
03/31/2036	Expiration date for the stock options granted on March 31, 2026.
04/02/2026	Date the Form 4 was signed by the attorney-in-fact.

Keywords

OPAL Fuels, Form 4, SEC Filing, Insider Trading, Stock Options, Restricted Stock Units, Equity Awards, Beneficial Ownership, Darrell Birck, Class A Common Stock

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