Form 4: Sitio Royalties Corp. CEO Christopher Conoscenti Disposes of Shares to Cover Tax Obligations

Christopher Conoscenti, CEO of Sitio Royalties Corp., disposed of 4,797 shares of Class A common stock on March 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On March 1, 2024, Christopher L. Conoscenti, the CEO of Sitio Royalties Corp., disposed of 4,797 shares of Class A Common Stock.
• The transaction was executed to satisfy tax withholding obligations related to the vesting of restricted stock units.
• The shares were withheld by Sitio Royalties Corp.
• The price per share was $23.15, representing the closing price of the company's Class A common stock on that date.
• Following the transaction, Conoscenti directly owns 202,315 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing simply reports a routine transaction for tax purposes.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the United States, ensuring transparency in stock transactions.
• Similar filings are expected from executives at comparable companies like Viper Energy Partners LP and Black Stone Minerals, L.P. when they engage in stock transactions.
• The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.

Key Dates