Form 4: Sitio Royalties Corp. Executive Brett S. Riesenfeld Reports Tax Withholding Share Disposal
SEC Form 4 Filing
Executive Vice President, General Counsel and Secretary of Sitio Royalties Corp., Brett S. Riesenfeld, reports disposition of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On June 7, 2024, Brett S. Riesenfeld, an Executive Vice President, General Counsel and Secretary at Sitio Royalties Corp., disposed of 3,261 shares of Class A Common Stock.
- The shares were withheld by Sitio Royalties Corp. to satisfy tax withholding obligations related to the vesting of restricted stock units.
- The transaction occurred at a price of $22.25 per share.
- Following the transaction, Riesenfeld directly owns 87,840 shares of Sitio Royalties Corp. Class A Common Stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes and doesn't indicate any strategic shift or concern.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is important for maintaining market confidence and regulatory compliance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for tax withholding.
Key Dates
| Date | Description |
|---|---|
| 06/07/2024 | Date of transaction (disposal of shares for tax withholding). |
| 06/11/2024 | Date of signature on the Form 4 filing. |
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