Form 4: ProFrac Holding Corp. Officer Scrogham Reports Acquisition of Shares and Grant of Restricted Stock Units

Steven Scrogham, CLO, CCO & Corp. Sec. of ProFrac Holding Corp., reports acquiring shares and receiving restricted stock units.

Summary

• On March 29, 2024, Steven Scrogham, CLO, CCO & Corp. Sec. of ProFrac Holding Corp., acquired 45,455 shares of Class A common stock at a price of $8.36 per share.
• Following this transaction, Scrogham directly owns 55,228 shares of the company's Class A common stock.
• Scrogham also received restricted stock units under the ProFrac Holding Corp. 2022 Long Term Incentive Plan, each representing the contingent right to receive one share of Class A common stock.
• A Limited Power of Attorney was executed on April 1, 2024, appointing Lance Turner and Valery Treida as attorneys-in-fact for Section 16 reporting obligations.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of insider trading activity. The acquisition of shares by an officer could be seen as a slightly positive signal, but it's not definitive.

Positives

• The acquisition of shares by an officer could be interpreted as a sign of confidence in the company's future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, such as officers and directors, trade in their company's stock. These filings provide transparency to the market regarding insider activity.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Companies like Halliburton (HAL), Schlumberger (SLB), and Baker Hughes (BKR) also have officers who are required to file similar forms when they trade in their company's stock.

Key Dates