Form 4: Smart Sand Executive VP, Robert Kiszka, Reports Share Transactions

Robert Kiszka, Executive VP of Operations at Smart Sand, Inc., reports acquisition and disposal of common stock related to performance-based shares.

Summary

• On March 1, 2024, Robert Kiszka, Executive VP of Operations at Smart Sand, Inc., acquired 11,777 shares of common stock related to TSR-based performance shares granted on July 30, 2021.
• The performance was measured over a three-year period from January 1, 2021, to December 31, 2023, relative to a peer group.
• Also on March 1, 2024, 3,980 shares were withheld for tax purposes at a price of $1.98 per share.
• Following these transactions, Kiszka directly owns 454,040 shares and indirectly owns 448,738 shares through an LLC.
• Kiszka disclaims beneficial ownership of the shares held by the LLC except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document primarily reports transactions related to previously granted performance shares. The vesting suggests the company met certain performance goals, which is mildly positive.

Positives

• The vesting of performance-based shares indicates that Smart Sand met certain performance metrics related to total shareholder return (TSR) over a three-year period.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities held by the LLC except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The vesting of performance shares can positively impact shareholder sentiment as it indicates the company achieved certain performance goals.

Key Dates