Form 4: Select Water Solutions EVP, COO Michael Skarke Reports Stock Transactions
SEC Form 4
Michael Skarke, EVP and COO of Select Water Solutions, reports the acquisition and disposal of company stock and performance share units.
Summary
- On March 5, 2024, Michael Skarke, EVP and COO of Select Water Solutions, had 5,422 shares of Class A Common Stock withheld at a price of $8.18 per share to satisfy tax obligations.
- Following this transaction, Skarke beneficially owns 378,041 shares of Class A Common Stock.
- On February 24, 2024, Skarke acquired 21,769 Performance Share Units (PSUs), each representing a contingent right to receive one share of Class A common stock.
- The PSUs vest based on continued employment and the Issuer's annualized absolute total shareholder return over the period from January 1, 2024 to December 31, 2026, with between 0% and 200% of the target number of PSUs eligible to vest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The vesting of the Performance Share Units is contingent upon continued employment and the Issuer's annualized absolute total shareholder return over the period from January 1, 2024 to December 31, 2026.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the transactions of company insiders.
Stakeholder Impact
- Shareholders are informed about executive stock transactions, providing transparency into management's holdings and incentives.
Key Dates
| Date | Description |
|---|---|
| 02/24/2024 | Date of acquisition of Performance Share Units |
| 03/05/2024 | Date of stock withholding for tax obligations |
| 03/07/2024 | Date of signature of the report |
| 12/31/2026 | End date for performance period of Performance Share Units |
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