Form 4: Permian Resources Director Karan E. Eves Receives Restricted Stock Award

Director Karan E. Eves of Permian Resources Corp. was granted 17,530 shares of Class A Common Stock as a restricted stock award on May 22, 2024.

Summary

• Karan E. Eves, a director of Permian Resources Corp, received a restricted stock award.
• The transaction occurred on May 22, 2024.
• The award consists of 17,530 shares of Class A Common Stock.
• Following the transaction, Eves directly owns 63,906 shares of Class A Common Stock.
• The restricted stock vests on May 22, 2025.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management interests with shareholders.

Positives

• The award of restricted stock aligns the director's interests with those of the shareholders.
• The vesting period of one year encourages long-term commitment.

Industry Context

Restricted stock awards are a common form of compensation for directors and executives in the oil and gas industry, aligning their interests with the long-term performance of the company. Companies like EOG Resources, Pioneer Natural Resources, and Devon Energy also use similar compensation strategies.

Comparison to Industry Standards

• Companies like EOG Resources, Pioneer Natural Resources, and Devon Energy also use similar compensation strategies.
• The vesting period of one year is fairly standard for restricted stock awards in the industry.
• The number of shares awarded is dependent on the company's size, the director's role, and overall compensation strategy.

Stakeholder Impact

• The restricted stock award aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates