Form 4: Smart Sand Executive Robert Kiszka Reports Stock Award Vesting and Tax Withholding
SEC Form 4 Filing
Executive VP of Operations at Smart Sand, Robert Kiszka, reports the vesting of performance-based stock awards and subsequent tax withholding, resulting in changes to his beneficial ownership.
Summary
- On March 5, 2025, Robert Kiszka, Executive VP of Operations at Smart Sand, Inc., reported transactions related to performance-based stock awards.
- These awards, originally granted on June 7, 2022, vested based on the company's performance relative to Return on Invested Capital (ROIC) and Total Shareholder Return (TSR) metrics over a three-year period from January 1, 2022, to December 31, 2024.
- Kiszka acquired 8,363 shares based on ROIC performance and 8,970 shares based on TSR performance, both at a price of $0.
- 5,857 shares were withheld for tax purposes at a price of $2.1 per share.
- Following these transactions, Kiszka directly owns 540,864 shares and indirectly owns 448,738 shares through an LLC.
- The reporting person disclaims beneficial ownership of the securities held by the LLC except to the extent of his pecuniary interest therein.
Sentiment
Score: 6
Explanation: Neutral sentiment as the document primarily reports routine transactions related to executive compensation. The vesting of shares suggests the company met performance targets, which is mildly positive, but the tax withholding is a neutral event.
Positives
- The vesting of performance-based stock awards suggests that Smart Sand, Inc. met certain ROIC and TSR performance goals.
Negatives
- The withholding of 5,857 shares for tax purposes reduced the number of shares Kiszka ultimately received.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders may view the vesting of performance-based awards positively, as it indicates the company achieved certain financial goals.
- The tax withholding has no direct impact on stakeholders outside of the reporting person.
Key Dates
| Date | Description |
|---|---|
| 2022/06/07 | Original grant date of ROIC-based and TSR-based performance shares. |
| 2022/01/01 | Start date of the performance period for ROIC and TSR metrics. |
| 2024/12/31 | End date of the performance period for ROIC and TSR metrics. |
| 2025/03/05 | Date of transaction: Vesting of performance shares and tax withholding. |
| 2025/03/07 | Date of Form 4 signature. |
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