Form 4: Permian Resources Executive Transfers 500,000 Common Units to Investment Partnership
SEC Form 4 Filing
Permian Resources' EVP, Chief Accounting Officer, Robert Regan Shannon, transferred 500,000 common units to an investment partnership he controls.
Summary
- Robert Regan Shannon, EVP and Chief Accounting Officer of Permian Resources Corp, reported a transaction involving the transfer of 500,000 common units.
- These common units, along with an equal number of Class C common stock shares, were transferred to SFIP 2024 L.P., an investment partnership controlled by Shannon.
- The common units can be redeemed for Class A common stock on a one-for-one basis.
- Following the transaction, Shannon directly owns 500,000 common units and indirectly owns 1,000,000 common units through investment partnerships.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding a transfer of assets, and does not indicate any positive or negative sentiment.
Industry Context
This transaction is a routine filing related to changes in beneficial ownership by a company executive and is common in the corporate world.
Comparison to Industry Standards
- Executives at publicly traded companies frequently use investment partnerships to manage their holdings.
- The transfer of common units and corresponding Class C shares to an investment partnership is a common practice for tax and estate planning purposes.
- Similar transactions are regularly reported by executives at other oil and gas companies such as EOG Resources and Pioneer Natural Resources.
Related Party Transactions
- The transfer of common units to SFIP 2024 L.P., an investment partnership controlled by the reporting person, is a related party transaction.
Stakeholder Impact
- The transaction does not have a direct impact on shareholders, employees, customers, suppliers, or creditors.
- The transaction is a change in beneficial ownership for an executive and is not expected to impact the company's operations.
Key Dates
| Date | Description |
|---|---|
| 12/20/2024 | Date of the transaction where 500,000 common units were transferred. |
| 12/26/2024 | Date the SEC Form 4 was signed. |
Keywords
Permian Resources, Common Units, Class A Common Stock, Class C Common Stock, Investment Partnership, Robert Regan Shannon, SEC Form 4, Beneficial Ownership
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