Form 4: OPAL Fuels Executive Vice President David Unger Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President David Unger of OPAL Fuels Inc. reports acquisition and disposal of Class A common stock and restricted stock units.
Summary
- On March 31, 2024, David Unger, Executive Vice President of OPAL Fuels Inc., reported transactions involving Class A common stock and restricted stock units.
- Unger acquired 80,704 shares of Class A common stock through the settlement of restricted stock units.
- He also disposed of 29,777 shares to satisfy tax withholding requirements at a price of $5.02 per share.
- Following these transactions, Unger directly owns 57,322 shares of Class A common stock.
- Additionally, Unger was granted 41,177 stock options with an exercise price of $5.02, vesting in three equal installments starting March 31, 2025.
- He also holds 231,971 restricted stock units after the reported transactions.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and stock transactions, which are generally viewed neutrally to positively as they align executive interests with company performance.
Positives
- The granting of stock options and restricted stock units to the Executive Vice President aligns his interests with the company's performance.
- The vesting schedule of the options and RSUs encourages long-term commitment from the executive.
Future Outlook
The document outlines the vesting schedule for restricted stock units and stock options, indicating future equity-based compensation for the reporting person.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects standard practices for incentivizing and retaining key personnel.
Comparison to Industry Standards
- Equity compensation, including RSUs and stock options, is a standard practice among publicly traded companies to align executive interests with shareholder value.
- Vesting schedules, such as the three-year vesting for the stock options, are typical to encourage long-term commitment.
- The exercise price of $5.02 for the stock options, matching the market price on the grant date, is a common approach.
Stakeholder Impact
- Shareholders may view the equity-based compensation as a positive incentive for the executive to drive company performance.
- Employees may see the executive's stock ownership as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Closing price of Class A common stock was $5.02, used for tax withholding and option exercise price. |
| 03/31/2024 | Date of the reported transactions, including RSU settlement and grant of stock options. |
| 03/31/2024 | 80,704 RSUs vested. |
| 03/31/2025 | 104,225 RSUs are scheduled to vest. |
| 03/31/2025 | First vesting date for the stock options. |
| 03/31/2026 | 104,225 RSUs are scheduled to vest. |
| 03/31/2026 | Second vesting date for the stock options. |
| 03/31/2027 | 23,521 RSUs are scheduled to vest. |
| 03/31/2027 | Third vesting date for the stock options. |
| 03/31/2034 | Expiration date for the stock options. |
| 04/02/2024 | Date of the report filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.