Form 4: Tetra Technologies Director Thomas R. Bates Jr. Awarded Restricted Stock Units

Director Thomas R. Bates Jr. of Tetra Technologies Inc. received 26,551 restricted stock units (RSUs) on May 21, 2024, which will vest on the one-year anniversary of the grant date.

Summary

• On May 21, 2024, Thomas R. Bates Jr., a director of Tetra Technologies Inc., was granted 26,551 restricted stock units (RSUs).
• The RSUs were awarded pursuant to the company's Second Amended and Restated 2018 Equity Incentive Plan.
• Each RSU represents the contingent right to receive one share of Tetra Technologies' common stock upon vesting.
• The award will cliff vest on the one-year anniversary of the grant date, contingent upon continued service with the Issuer.
• The closing price of Tetra Technologies' common stock on the grant date was $4.07.
• Vested shares will be delivered to the reporting person on the settlement date unless the Issuer elects to settle the RSUs in cash, or a combination of shares and cash, in the Issuer's sole discretion.

Sentiment

Score: 7

Explanation: The document indicates a standard equity compensation practice, which is generally viewed positively as it aligns management interests with shareholders. The sentiment is neutral to slightly positive.

Positives

• The RSU grant aligns the director's interests with those of the shareholders, incentivizing continued service and contribution to the company's success.

Future Outlook

The RSUs will vest on the one-year anniversary of the grant date, subject to continued service with the Issuer at vest date. Vested shares will be delivered to the reporting person on the settlement date unless the Issuer elects to settle the RSUs in cash, or a combination of shares and cash, in the Issuer's sole discretion.

Industry Context

Equity compensation is a common practice in the industry to attract and retain key personnel and align their interests with those of the shareholders.

Stakeholder Impact

• The RSU grant could have a slightly dilutive effect on existing shareholders, but it also incentivizes the director to work towards increasing shareholder value.

Key Dates