Form 4: Range Resources Director Maxwell Sells Shares to Cover Taxes, Acquires Additional Stock

Director Greg G. Maxwell of Range Resources Corp. [RRC] sold shares to cover withholding taxes and acquired additional shares through deferred compensation and unvested stock.

Summary

• On May 13, 2025, Director Greg G. Maxwell sold 10,374 shares of Range Resources Corp. common stock at a price of $40.62 per share to cover withholding taxes related to a distribution from the 2004 Deferred Compensation Plan.
• Following this transaction, Maxwell directly owns 109,057 shares.
• On May 14, 2025, Maxwell acquired 7,182 shares at $38.9881.
• These shares were awarded to the Board of Directors and are 100% vested on the 1 year anniversary of the grant.
• The share price of $38.9881 was determined by a 5-day volume weighted average price from May 8, 2025 to May 14, 2025.
• Maxwell also indirectly owns 7,438 shares in a Deferred Compensation Account and 7,182 unvested shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and related to compensation and tax obligations. There is no indication of significant positive or negative sentiment.

Positives

• Maxwell's acquisition of 7,182 shares, even if part of a compensation plan, could be seen as a positive sign of confidence in the company's future.

Negatives

• The sale of 10,374 shares, while for tax purposes, could be interpreted negatively by some investors, although it's a common practice.

Risks

• The document does not explicitly mention any risks.
• However, any insider trading activity, even if routine, can be subject to scrutiny and potential legal challenges if not properly disclosed and compliant with regulations.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations is a common occurrence, especially after stock awards or option exercises. The acquisition of shares as part of board compensation is also standard practice.

Comparison to Industry Standards

• Comparing Range Resources to peers like EQT Corporation, Antero Resources, and Southwestern Energy, insider transactions are regularly disclosed via Form 4 filings.
• The volume and frequency of these transactions are typical for directors and officers in similar roles within the oil and gas industry.
• The vesting schedules and compensation structures are also generally aligned with industry norms for board members.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on stakeholders, as they are routine and related to compensation and tax obligations.

Key Dates

Keywords

Range Resources, Director, Maxwell, Share Sale, Share Acquisition, Form 4, Deferred Compensation, Insider Trading, RRC