Form 4: Select Water Solutions Executive Sells Shares to Cover Tax Obligations and Vests Restricted Stock

Christopher Kile George, SVP at Select Water Solutions, reports transactions involving Class A Common Stock, including vesting of restricted stock, share sales, and shares withheld for tax obligations.

Summary

• On February 24, 2024, Christopher Kile George vested restricted stock under the Select Energy Services, Inc. 2016 Equity Incentive Plan, resulting in 40,188 Class A Common Stock shares.
• Also on February 24, 2024, 27,170 shares were withheld by Select Water Solutions to cover tax obligations related to the vesting of restricted stock at a price of $8.8.
• On February 27, 2024, George sold 23,000 shares of Class A Common Stock at a weighted average price of $8.6318, with prices ranging from $8.625 to $8.6418.
• Following these transactions, George directly owns 255,587 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as the transactions appear to be routine and related to compensation and tax obligations.

Negatives

• The sale of 23,000 shares by an executive could be perceived negatively by some investors.

Risks

• Executive stock sales can sometimes signal a lack of confidence, although in this case, it appears to be primarily for tax obligation purposes.

Future Outlook

The remaining restricted stock will vest in three equal installments on February 24, 2025, February 24, 2026, and February 24, 2027.

Industry Context

Insider transactions are a normal part of corporate governance, and this filing provides transparency into the stock ownership changes of a key executive at Select Water Solutions.

Comparison to Industry Standards

• It's common for executives to sell shares to cover tax obligations when restricted stock vests.
• The sale price of $8.6318 is within a normal range for stock transactions of this type.
• Comparing this transaction to similar insider sales at companies like Halliburton or Schlumberger would provide additional context, but that data is not available in this document.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders if it creates downward pressure on the stock price, although the volume is relatively small.

Key Dates