Form 4: Smart Sand CFO Lee E. Beckelman Reports Stock Award Vesting and Tax Withholding

Lee E. Beckelman, CFO of Smart Sand, Inc., reports the vesting of performance-based shares and subsequent tax withholding on March 1, 2024.

Summary

• On March 1, 2024, Lee E. Beckelman, the CFO of Smart Sand, Inc., reported a transaction involving the company's common stock.
• 17,666 shares were acquired due to the vesting of TSR-based performance shares originally granted on July 30, 2021.
• The vesting was contingent on the company's total shareholder return (TSR) performance from January 1, 2021, to December 31, 2023, relative to a peer group.
• 5,238 shares were withheld for tax purposes related to the vesting of these performance shares at a price of $1.98 per share.
• Following these transactions, Beckelman directly owns 627,466 shares of Smart Sand, Inc.
• The report was signed on March 5, 2024.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects routine insider transactions related to previously granted performance shares. The vesting suggests the company met its TSR targets, which is mildly positive.

Positives

• The vesting of performance shares suggests that Smart Sand, Inc. met certain TSR performance goals relative to its peer group over the three-year period from January 1, 2021, to December 31, 2023.

Industry Context

Form 4 filings are standard disclosures for company insiders and provide transparency into their transactions involving the company's stock. This filing indicates the CFO's stock ownership and recent transactions.

Stakeholder Impact

• The vesting of performance shares can be seen as a positive signal to shareholders, indicating that the company has achieved certain performance goals.

Key Dates