Form 4: Ranger Energy Services CEO Acquires Shares Through Performance Share Units
SEC Form 4 Filing
Ranger Energy Services CEO, Stuart Bodden, acquired shares of Class A Common Stock due to the vesting of performance share units and disposed of shares to cover tax obligations.
Summary
- On March 3, 2025, Stuart Bodden, CEO of Ranger Energy Services, acquired 43,329 shares of Class A Common Stock related to performance share units (PSUs) granted in 2022.
- These PSUs vested based on performance over the three-year period ending December 31, 2024, as approved by the Compensation Committee on March 3, 2025.
- Bodden also disposed of 17,243 shares of Class A Common Stock at a price of $16.15 to satisfy tax obligations.
- Following these transactions, Bodden directly owns 341,347 shares of Ranger Energy Services Class A Common Stock.
Sentiment
Score: 6
Explanation: Neutral sentiment. The acquisition of shares through PSU vesting is a positive sign, but the sale to cover taxes is a standard practice and doesn't significantly impact sentiment.
Positives
- The vesting of performance share units suggests that the company met certain performance targets set by the board.
Negatives
- The disposal of shares to cover tax obligations could be interpreted as a slightly negative signal, although it is a common practice.
Industry Context
This type of equity compensation is common in the energy services industry to align management's interests with those of shareholders.
Comparison to Industry Standards
- Performance-based equity compensation is a standard practice among publicly traded companies, including Ranger Energy Services' competitors such as Halliburton, Schlumberger, and Baker Hughes.
- The specific metrics used for performance share units vary, but often include revenue growth, profitability, and return on invested capital.
- The vesting period of three years is also typical for these types of awards.
Stakeholder Impact
- The vesting of PSUs aligns management's interests with shareholders, potentially driving long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 2022 | Grant date of the performance share units (PSUs). |
| December 31, 2024 | End of the three-year performance period for the PSUs. |
| March 3, 2025 | Date of transaction (acquisition and disposal of shares) and Compensation Committee approval. |
| March 5, 2025 | Date of signature on the Form 4 filing. |
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