Form 4: Tetra Technologies Inc. Executive Exercises and Disposes of Restricted Stock Units
SEC Form 4
Alicia R. Boston Shoemake, General Counsel of Tetra Technologies Inc., reports the vesting and subsequent disposal of restricted stock units to cover tax obligations.
Summary
- On February 25, 2024, Alicia R. Boston Shoemake, General Counsel of Tetra Technologies Inc., vested and disposed of restricted stock units (RSUs).
- 3,453 shares vested from RSUs granted on February 17, 2021, and 6,845 shares vested from RSUs granted on February 21, 2022.
- A total of 1,024 shares were disposed of at a price of $3.79 to cover tax obligations related to the February 17, 2021 vesting.
- An additional 2,030 shares were disposed of at a price of $3.79 to cover tax obligations related to the February 21, 2022 vesting.
- Following these transactions, Ms. Boston Shoemake directly owns 95,847 shares of common stock and indirectly owns 4,259 shares through her spouse.
- She also holds 13,690 unvested restricted stock units, which will vest every six months until February 25, 2025.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of routine transactions related to executive compensation. It doesn't indicate positive or negative sentiment about the company's performance.
Future Outlook
The remaining unvested portion of the restricted stock unit award will vest every six months until fully vested on February 25, 2025.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the 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 filing are standard across many publicly traded companies.
- Companies like Halliburton (HAL) and Schlumberger (SLB) also utilize similar equity-based compensation for their executives.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they relate to the vesting of previously granted compensation.
- Employees may be interested in the details of executive compensation as it relates to overall company performance and equity incentives.
Key Dates
| Date | Description |
|---|---|
| 02/17/2021 | Date of grant for some of the restricted stock units that vested. |
| 02/21/2022 | Date of grant for some of the restricted stock units that vested. |
| 02/25/2024 | Date of transaction: vesting and disposal of restricted stock units. |
| 02/25/2025 | Date when the remaining unvested portion of restricted stock units will be fully vested. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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