Form 4: Permian Resources Corp Executive Sells Shares to Cover Tax Obligations

Robert Regan Shannon, EVP and Chief Accounting Officer of Permian Resources Corp, sold 4,822 shares of Class A Common Stock to cover tax withholding obligations related to vesting of a restricted stock award.

Summary

• On September 3, 2024, Robert Regan Shannon, EVP and Chief Accounting Officer of Permian Resources Corp, sold 4,822 shares of Class A Common Stock.
• The sale was executed to cover tax withholding obligations associated with the vesting of a restricted stock award.
• The shares were sold at a weighted average price of $13.9317, with individual transactions ranging from $13.86 to $14.00.
• Following the transaction, Shannon directly owns 61,399 shares of Permian Resources Corp.
• The sale was a mandatory 'sell to cover' transaction and did not represent a discretionary trade by the reporting person.

Sentiment

Score: 5

Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.

Industry Context

This is a routine Form 4 filing, indicating an insider transaction. Such filings are common and provide transparency into the trading activities of company executives. The sale appears to be related to tax obligations, which is a typical reason for such transactions.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates