Form 4: Smart Sand Executive James Young Reports Share Award and Tax Withholding
SEC Form 4 Filing
James Douglas Young, Executive Vice President, General Counsel, and Secretary of Smart Sand, Inc., reports the acquisition of 11,777 shares and disposal of 3,862 shares for tax purposes related to a performance-based award.
Summary
- On March 12, 2024, James Douglas Young, an executive at Smart Sand, Inc., reported transactions involving the company's common stock.
- He acquired 11,777 shares as part of a ROIC-based performance award granted on July 30, 2021, with the performance period spanning from January 1, 2021, to December 31, 2023.
- The acquisition price was $0.
- Concurrently, he disposed of 3,862 shares at $1.94 per share to cover tax obligations associated with the vesting of these performance shares.
- Following these transactions, Young directly owns 292,445 shares of Smart Sand, Inc.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and doesn't inherently indicate positive or negative news about the company's performance.
Positives
- The vesting of performance-based shares suggests that the company met its ROIC goals for the specified period, which could be viewed positively by investors.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates activity related to compensation and does not necessarily reflect a change in the company's outlook.
Stakeholder Impact
- Shareholders may view the vesting of performance-based shares as a positive sign that the company is achieving its financial goals.
Key Dates
| Date | Description |
|---|---|
| 07/30/2021 | Original grant date of ROIC-based performance award shares. |
| 01/01/2021 | Start date of the performance period for the ROIC-based award. |
| 12/31/2023 | End date of the performance period for the ROIC-based award. |
| 03/12/2024 | Date of share acquisition and disposal. |
| 03/14/2024 | Date of Form 4 filing. |
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