Form 4: Range Resources EVP & CFO Mark Scucchi Reports Acquisition of Common Stock

Mark Scucchi, EVP & CFO of Range Resources Corp, reports the acquisition of 113,405 shares of common stock on February 29, 2024, due to the vesting of Performance Share Units (PSUs).

Summary

• On February 29, 2024, Mark Scucchi, the EVP & CFO of Range Resources Corp, acquired 113,405 shares of common stock at a price of $31.62 per share.
• This acquisition was a result of the vesting of Performance Share Units (PSUs) granted in February 2021.
• The vesting was based on the application of performance criteria, resulting in 160.0% of the target vesting for TSR PSUs and 129.7% of the target vesting for Absolute Measure PSUs.
• Following the reported transaction, Scucchi directly owns 650,525 shares of common stock.
• Scucchi also indirectly owns shares through a 401K (26,153.2985 shares), a Deferred Compensation Account (144,282 shares), and an IRA (12,077 shares).
• Additionally, he indirectly owns 80,226 unvested shares and holds 172,217 Performance Share Units as of February 29, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The vesting of PSUs suggests the company met certain performance targets, which is a positive sign. The increased ownership by the CFO could also be interpreted as a sign of confidence.

Positives

• The vesting of PSUs indicates that performance targets were met, suggesting positive performance for Range Resources Corp.
• The increased share ownership by a key executive could be seen as a sign of confidence in the company's future prospects.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can influence investor sentiment.

Stakeholder Impact

• Shareholders may view the increased ownership by the CFO positively.
• Employees may be motivated by the vesting of PSUs, indicating the achievement of performance goals.

Key Dates