Form 4: SandRidge Energy CFO Brandon Brown Reports Stock Transactions
SEC Form 4 Filing
SVP and CFO of SandRidge Energy, Brandon Louis Brown Sr., reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On March 15, 2024, Brandon Louis Brown Sr., SVP and CFO of SandRidge Energy, reported transactions involving the company's common stock.
- 740 restricted stock units vested, which were converted into common stock.
- 220 shares were disposed of to cover tax obligations at a price of $13.89 per share.
- Following these transactions, Brown directly owns 1,807 shares of SandRidge Energy common stock and 740 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report on routine stock transactions related to executive compensation.
Industry Context
This is a routine disclosure related to executive compensation and does not necessarily reflect a strategic shift or material event for SandRidge Energy.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time.
- Tax withholding upon vesting is a standard practice.
- Companies like Chesapeake Energy and Devon Energy also utilize similar equity-based compensation for their executives.
Key Dates
| Date | Description |
|---|---|
| September 12, 2023 | Date of Power of Attorney execution. |
| March 15, 2024 | Date of stock transactions: vesting of restricted stock units and tax withholding. |
| March 19, 2024 | Date of signature for the Form 4 filing. |
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