Form 4: Sitio Royalties CEO Reports Routine Stock Dispositions for Tax Obligations
Insider Transaction Report
Sitio Royalties Corp.'s CEO, Christopher L. Conoscenti, reported the disposition of Class C and Class A common stock, along with OpCo Units, primarily to cover tax withholding obligations related to vested equity awards.
Summary
- Christopher L. Conoscenti, CEO and Director of Sitio Royalties Corp. (STR), filed a Form 4 detailing changes in his beneficial ownership.
- On June 6, 2025, 9,136 shares of Class C Common Stock and 9,136 Sitio Royalties Operating Partnership, LP Units (OpCo Units) were forfeited to satisfy tax withholding obligations related to the vesting of a portion of Class C Common Stock.
- Following this transaction, Mr. Conoscenti beneficially owns 71,826 shares of Class C Common Stock and 71,826 OpCo Units.
- On June 7, 2025, 3,788 shares of Class A Common Stock were withheld by the Issuer at a price of $19.95 per share to satisfy tax withholding obligations in connection with the vesting of one-third of a restricted stock unit award.
- After this transaction, Mr. Conoscenti beneficially owns 254,616 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reports routine insider transactions related to tax withholding upon equity award vesting, which is a neutral event and does not reflect positive or negative operational performance or discretionary selling.
Related Party Transactions
- The transactions involve the disposition of securities to the Issuer (Sitio Royalties Corp.) to cover tax withholding obligations, which is a common form of related party transaction in executive compensation.
Stakeholder Impact
- Shareholders: Minimal direct impact as these are routine tax-related dispositions, not discretionary sales indicating a change in insider sentiment or company fundamentals.
- Employees: No direct impact mentioned beyond the reporting person's compensation.
Key Dates
| Date | Description |
|---|---|
| 06/06/2025 | Date of forfeiture of Class C Common Stock and OpCo Units for tax withholding. |
| 06/07/2025 | Date of withholding of Class A Common Stock for tax obligations related to restricted stock unit vesting. |
| 06/10/2025 | Date the Form 4 was signed by Christopher L. Conoscenti's attorney-in-fact. |
Keywords
Sitio Royalties Corp., STR, Form 4, Insider Transaction, Stock Ownership, CEO, Christopher L. Conoscenti, Equity Vesting, Tax Withholding, Class A Common Stock, Class C Common Stock, OpCo Units
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