Form 4: Sitio Royalties Corp. CEO Christopher Conoscenti Forfeits Shares for Tax Obligations
SEC Form 4 Filing
Sitio Royalties Corp. CEO Christopher Conoscenti forfeited 6,243 shares of Class C Common Stock and corresponding operating partnership units to cover tax withholding obligations.
Summary
- On June 6, 2024, Christopher L. Conoscenti, CEO of Sitio Royalties Corp., forfeited 6,243 shares of Class C Common Stock.
- This forfeiture was also accompanied by the forfeiture of 6,243 corresponding units in Sitio Royalties Operating Partnership, LP.
- The shares and units were forfeited to satisfy tax withholding obligations related to the vesting of Class C Common Stock.
- Following the transaction, Conoscenti directly owns 80,962 shares of Class C Common Stock and 80,962 units in the Operating Partnership.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard tax obligations. It doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like the CEO, engage in transactions involving the company's securities. This filing indicates a transaction related to tax obligations, which is a common occurrence.
Stakeholder Impact
- The forfeiture of shares to cover tax obligations has a minimal impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 06/06/2024 | Date of transaction: Christopher L. Conoscenti forfeited shares and partnership units. |
| 06/10/2024 | Date of signature on the Form 4 filing. |
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