Form 4: ProPetro Holding Corp. CFO David Scott Schorlemer Reports Acquisition of Restricted Stock Units

David Scott Schorlemer, CFO of ProPetro Holding Corp., reports the acquisition of 100,628 restricted stock units (RSUs) on February 28, 2024.

Summary

• On February 28, 2024, David Scott Schorlemer, the Chief Financial Officer of ProPetro Holding Corp., acquired 100,628 restricted stock units (RSUs).
• Each RSU represents a contingent right to receive either one share of ProPetro Holding Corp. common stock or an equivalent amount of cash based on the fair market value of one share.
• The RSUs will vest in three substantially equal annual installments, starting on February 28, 2025.
• Following this transaction, Schorlemer directly owns 157,731 derivative securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing indicating standard executive compensation practices. It doesn't inherently suggest positive or negative sentiment, but the granting of RSUs can be seen as a positive incentive for the CFO.

Positives

• The acquisition of RSUs by the CFO aligns his interests with those of the shareholders, as the value of the RSUs is tied to the performance of the company's stock.

Future Outlook

The RSUs will vest in three substantially equal annual installments commencing on February 28, 2025.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• Shareholders may view the granting of RSUs to the CFO as a positive sign, aligning management's interests with their own.

Key Dates