Form 4: Permian Resources Officer Sells Shares for Tax Obligations

Permian Resources' EVP and Chief Accounting Officer, Robert Regan Shannon, sold shares to cover tax withholding obligations related to a restricted stock award.

Summary

• Robert Regan Shannon, Executive Vice President and Chief Accounting Officer of Permian Resources Corp (PR), reported sales of Class A Common Stock.
• On March 3, 2026, 3,865 shares were sold at a weighted average price of $18.7055, with prices ranging from $18.4850 to $19.1000.
• On March 4, 2026, 5,000 shares were sold at a weighted average price of $18.279, with prices ranging from $18.1400 to $18.3750.
• These sales were non-discretionary 'sell to cover' transactions, executed to satisfy tax withholding obligations in connection with the vesting of a restricted stock award.
• Following these transactions, Shannon directly beneficially owns 1,351,802 shares of Class A Common Stock.
• Shannon also indirectly controls 500,000 shares through SFIP 2024 LP and another 500,000 shares through Shannon Family Investment Partnership, LP, both investment partnerships controlled by the reporting person.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the sales were non-discretionary and solely for tax purposes, not reflecting a change in the executive's investment conviction or the company's operational outlook.

Future Outlook

NA

Management Comments

• The sales were effected through a mandatory 'sell to cover' transaction that did not represent a discretionary trade by the reporting person.

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions are a common and routine mechanism for executives to satisfy tax obligations arising from the vesting of restricted stock awards. These transactions are generally not indicative of management's discretionary view on the company's future performance or stock value, unlike open market purchases or discretionary sales.

Related Party Transactions

• Robert Regan Shannon controls 500,000 shares indirectly through SFIP 2024 LP, an investment partnership.
• Robert Regan Shannon controls 500,000 shares indirectly through Shannon Family Investment Partnership, LP, an investment partnership.

Stakeholder Impact

• Shareholders: Minimal direct impact, as 'sell to cover' transactions are routine and do not typically signal a change in management's confidence or company fundamentals. The volume of shares sold is relatively small compared to total outstanding shares.

Key Dates

Recommendation

The reported transactions are non-discretionary 'sell to cover' sales to satisfy tax obligations related to restricted stock vesting. These are routine events for executives and do not signal a change in the company's fundamentals or management's confidence, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

Permian Resources, PR, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Executive Compensation, Beneficial Ownership