Form 4: Tetra Technologies Executive Matthew Sanderson Reports Stock Transactions
SEC Form 4
Executive Vice President Matthew Sanderson of Tetra Technologies Inc. reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On August 25, 2024, Matthew Sanderson, an Executive Vice President at Tetra Technologies Inc., reported transactions involving common stock and restricted stock units (RSUs).
- A total of 17,825 shares vested from RSUs granted on February 21, 2022, and 7,371 shares were surrendered to cover tax obligations related to this vesting, at a price of $3.23 per share.
- Additionally, 15,942 shares vested from RSUs granted on February 22, 2023, and 6,593 shares were surrendered for tax withholding at $3.23 per share.
- Following these transactions, Sanderson's direct ownership stands at 610,396 shares of common stock and 47,826 restricted stock units.
- The remaining unvested portions of the RSU awards will vest every six months until February 25, 2025, and February 25, 2026, respectively.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices. It doesn't inherently indicate positive or negative sentiment regarding the company's performance.
Positives
- The vesting of restricted stock units indicates that Sanderson is meeting performance or time-based milestones set by the company.
Future Outlook
The remaining unvested portions of the restricted stock unit awards will continue to vest every six months until February 2025 and February 2026.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
- The vesting schedules and tax withholding practices described in the document are standard procedures for equity compensation.
Stakeholder Impact
- Shareholders gain insight into executive compensation and ownership structure.
- Employees may be interested in the vesting schedules of RSUs as part of their own compensation packages.
Key Dates
| Date | Description |
|---|---|
| February 21, 2022 | Date of grant for restricted stock units, some of which vested on August 25, 2024. |
| February 22, 2023 | Date of grant for restricted stock units, some of which vested on August 25, 2024. |
| August 25, 2024 | Date of reported stock transactions, including vesting of RSUs and tax withholding. |
| February 25, 2025 | Date when remaining unvested portion of restricted stock units granted on February 21, 2022, will be fully vested. |
| February 25, 2026 | Date when remaining unvested portion of restricted stock units granted on February 22, 2023, will be fully vested. |
| August 27, 2024 | Date of signature on the Form 4 filing. |
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