Form 4: Smart Sand CEO Charles Edwin Young Reports Share Transactions
SEC Form 4 Filing
Charles Edwin Young, CEO of Smart Sand, Inc., reports acquisition and disposal of company shares related to performance-based awards and tax obligations.
Summary
- On March 1, 2024, Charles Edwin Young, CEO of Smart Sand, Inc., acquired 30,916 shares of common stock related to TSR-based performance shares granted on July 30, 2021.
- The acquisition price was $0.
- On the same day, Young disposed of 9,167 shares at $1.98 per share to cover tax obligations related to the vesting of these performance shares.
- Following these transactions, Young directly owns 1,149,602 shares and indirectly owns 5,842,700 shares through Keystone Cranberry, LLC.
- Young holds 67% of the membership interests in Keystone Cranberry, LLC and has sole voting and investment power over the shares held by Keystone.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation. The acquisition of shares is a positive sign, but the disposal for tax purposes is a neutral event.
Positives
- The acquisition of shares reflects the achievement of performance metrics related to total shareholder return (TSR) over a three-year period.
Negatives
- The disposal of shares to cover tax obligations reduces Young's direct holdings in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to performance-based compensation.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 2021-01-01 | Start date for the three-year period used to measure total shareholder return (TSR) of the Issuer relative to a peer group of companies. |
| 2021-07-30 | Original grant date of the TSR-based performance shares. |
| 2023-12-31 | End date for the three-year period used to measure total shareholder return (TSR) of the Issuer relative to a peer group of companies. |
| 2024-03-01 | Date of the share acquisition and disposal transactions. |
| 2024-03-05 | Date of signature for the Form 4 filing. |
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