Form 4: Select Water Solutions CEO Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
John Schmitz, President and CEO of Select Water Solutions, reports acquisition and disposal of Class A Common Stock related to performance share units (PSUs) and tax obligations.
Summary
- On March 20, 2024, John Schmitz, President and CEO of Select Water Solutions, acquired 119,238 shares of Class A Common Stock upon the vesting of performance share units (PSUs).
- These PSUs were granted on March 5, 2021, and the performance conditions were met.
- To cover tax withholding obligations related to the vesting of the PSUs, 46,921 shares were disposed of at a price of $9.08 per share.
- Following these transactions, Schmitz directly owns 1,676,733 shares of Class A Common Stock.
- Schmitz also indirectly owns 2,825,444 shares through B-29 Holdings, LP, and 399,684 shares through B-29 Investments, LP.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's performance.
Industry Context
Form 4 filings are standard practice for company insiders reporting transactions in their company's stock. This filing indicates the vesting of performance-based compensation and subsequent actions to cover tax liabilities.
Key Dates
| Date | Description |
|---|---|
| 03/05/2021 | Date of performance share unit award grant |
| 03/20/2024 | Date of stock acquisition and disposal related to PSU vesting |
| 03/22/2024 | Date of signature on the Form 4 filing |
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