Form 4: Opal Fuels Executive Vice President David Unger Reports Changes in Beneficial Ownership

Executive Vice President David Unger reports the vesting and settlement of restricted stock units (RSUs) and related tax withholding.

Summary

• On March 31, 2025, David Unger, Executive Vice President of OPAL Fuels Inc., reported changes in his beneficial ownership of the company's Class A common stock.
• The transactions included the vesting and settlement of 80,704 and 23,522 restricted stock units (RSUs) into Class A common stock.
• Shares were also withheld by the company to satisfy tax obligations related to the vesting of these RSUs, at a price of $1.84 per share.
• Unger was also granted 171,300 new RSUs on March 31, 2025, which will vest in three equal installments over the next three years, contingent on continued service.
• Following these transactions, Unger directly owns 123,976 shares of Class A common stock and 47,043 and 171,300 RSUs.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The vesting of RSUs and granting of new RSUs are standard practices.

Positives

• The vesting of RSUs indicates that Unger has met certain performance or time-based milestones set by the company.
• The grant of additional RSUs suggests the company's continued confidence in Unger's contributions.

Future Outlook

The reporting person has been granted additional RSUs that will vest in the future, contingent on continued service to the Issuer.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing is typical for executives receiving and vesting equity compensation.

Comparison to Industry Standards

• Equity compensation is a standard practice across the industry to align the interests of executives with those of shareholders.
• The vesting schedules and terms of the RSUs are likely comparable to those offered by peer companies to attract and retain talent.
• Companies like Clean Energy Fuels Corp. and Renewable Energy Group also utilize equity-based compensation for their executives.

Stakeholder Impact

• The vesting of RSUs and subsequent increase in shares held by an executive can be viewed positively by shareholders, as it aligns management's interests with theirs.
• The tax withholding related to the vesting of RSUs has a minor impact on the company's cash flow.

Key Dates

Keywords

OPAL Fuels, David Unger, Executive Vice President, Form 4, Beneficial Ownership, Restricted Stock Units, RSUs, Class A Common Stock, Vesting, Tax Withholding