Form 4: Sitio Royalties Corp. Executive Dax McDavid Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Executive Vice President of Corporate Development at Sitio Royalties Corp., Andrew Dax McDavid, disposed of 3,100 shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 1, 2024, Andrew Dax McDavid, Executive Vice President of Corporate Development at Sitio Royalties Corp., disposed of 3,100 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 price was $23.15 per share.
- Following the transaction, McDavid directly owns 217,062 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no significant positive or negative implications for the company's outlook.
Industry Context
Form 4 filings are standard practice for corporate insiders and provide transparency into their transactions in company stock. This transaction is a routine occurrence related to tax obligations from vested equity.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: disposal of shares to cover tax obligations. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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