4/A: Select Water Solutions CFO Reports Amended Ownership of Performance Share Units
SEC Form 4/A
Nick L. Swyka, former CFO of Select Water Solutions, files an amendment to Form 4 to report previously omitted Performance Share Units (PSUs) granted on February 24, 2024.
Summary
- Nick L. Swyka, the former CFO and Senior VP of Select Water Solutions, Inc., filed an amended Form 4 to report ownership of Performance Share Units (PSUs).
- The original filing inadvertently omitted these PSUs.
- The PSUs were granted on February 24, 2024.
- Each PSU represents a contingent right to receive one share of Class A common stock.
- The number of PSUs that vest (between 0% and 200% of the target) depends on continued employment and the company's annualized absolute total shareholder return from January 1, 2024, to December 31, 2026.
- Swyka ceased serving as CFO and Senior VP on March 4, 2024, and will only be entitled to a portion of the PSUs based on the company's performance.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding executive compensation. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Future Outlook
The vesting of the Performance Share Units is contingent on the company's annualized absolute total shareholder return between January 1, 2024 and December 31, 2026.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the alignment of executive incentives with shareholder value through performance-based equity awards.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| CFO & Senior VP | Nick L. Swyka | 03/04/2024 | Ceased serving as officer of the Issuer |
Stakeholder Impact
- Shareholders may be interested in the performance-based compensation structure for executives, as it aligns management's interests with shareholder returns.
Key Dates
| Date | Description |
|---|---|
| 02/24/2024 | Date of transaction (grant of Performance Share Units) |
| 02/27/2024 | Date of original filing |
| 03/04/2024 | Effective date of Nick L. Swyka ceasing to be CFO & Senior VP |
| 03/07/2024 | Date of amended filing |
| 12/31/2026 | End date for measuring annualized absolute total shareholder return for PSU vesting |
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