Form 4: Tetra Technologies Inc. Executive Alicia Boston Shoemake Reports Stock Transactions
SEC Form 4
Alicia Boston Shoemake, General Counsel of Tetra Technologies Inc., reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to her beneficial ownership of company stock.
Summary
- On August 25, 2024, Alicia Boston Shoemake, General Counsel of Tetra Technologies Inc., engaged in transactions involving restricted stock units (RSUs).
- A total of 6,845 shares vested from RSUs granted on February 21, 2022, and 6,377 shares vested from RSUs granted on February 22, 2023.
- To cover tax obligations related to the vesting, 6,801 and 6,336 shares were surrendered to the issuer at a price of $3.23 per share.
- Following these transactions, Ms. Shoemake directly owns 109,639 shares of common stock and indirectly owns 4,889 shares through her spouse.
- She also holds 19,131 unvested restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The remaining unvested portions of the restricted stock unit awards will vest every six months until February 25, 2025, and February 25, 2026, respectively.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Stock-based compensation is a common practice across the industry, with companies like Halliburton (HAL), Schlumberger (SLB), and Baker Hughes (BKR) also utilizing RSUs and stock options as part of their executive compensation packages.
- The vesting schedules and tax withholding practices are generally consistent with industry norms.
- The specific amounts and terms of the RSUs are tailored to Tetra Technologies' compensation strategy and individual performance.
Stakeholder Impact
- Shareholders are informed about the insider transactions of a key executive.
- The transactions have a minor impact on the total outstanding shares of the company.
Key Dates
| Date | Description |
|---|---|
| February 21, 2022 | Date of grant for 6,845 restricted stock units. |
| February 22, 2023 | Date of grant for 6,377 restricted stock units. |
| August 25, 2024 | Date of transactions: vesting of RSUs and surrender of shares for tax obligations. |
| February 25, 2025 | Date when the remaining unvested portion of the restricted stock unit award granted on February 21, 2022 will be fully vested. |
| February 25, 2026 | Date when the remaining unvested portion of the restricted stock unit award granted on February 22, 2023 will be fully vested. |
| August 27, 2024 | Date of signature for the Form 4 filing. |
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