Form 4: Tetra Technologies Inc. Executive Roy McNiven Awarded 81,595 Restricted Stock Units

Roy McNiven, a Senior Vice President at Tetra Technologies Inc., was granted 81,595 restricted stock units (RSUs) on February 28, 2025, under the company's 2018 Equity Incentive Plan.

Summary

• On February 28, 2025, Roy McNiven, a Senior Vice President of Tetra Technologies Inc., received 81,595 restricted stock units (RSUs).
• The RSUs were granted under the company's Second Amended and Restated 2018 Equity Incentive Plan.
• Each RSU represents the right to receive one share of Tetra Technologies Inc.'s common stock upon vesting.
• The closing price of Tetra Technologies Inc.'s common stock on the grant date was $3.79.
• The RSUs will vest in installments, starting with one-third on February 28, 2026, and continuing with one-sixth vesting on each August 25th and February 25th thereafter, until fully vested on February 25, 2028, contingent upon continued service with the company.
• Vested shares will be delivered to McNiven on the settlement date, unless Tetra Technologies Inc. elects to settle the RSUs in cash, or a combination of shares and cash, at its sole discretion.
• McNiven has also granted Kimberly M. O'Brien power of attorney to execute and file SEC forms on his behalf.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of an equity grant, which is generally neutral. The vesting schedule suggests a positive outlook for continued service and alignment of interests.

Positives

• The RSU grant aligns executive compensation with the company's long-term performance.
• The vesting schedule incentivizes continued service with Tetra Technologies Inc.

Future Outlook

The document outlines the vesting schedule for the RSUs, indicating future dates when McNiven will be eligible to receive shares of Tetra Technologies Inc. common stock, subject to continued service.

Industry Context

Equity compensation is a common practice in the industry to align management's interests with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• RSUs are a standard form of equity compensation used across various industries, including technology and energy, to incentivize executives.
• Vesting schedules, such as the one described in the document, are typical for RSU grants, ensuring continued service and alignment with long-term company goals.
• Companies like Halliburton and Schlumberger also utilize equity-based compensation for their executives.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive incentive for management to drive long-term value.
• Employees may see the grant as a sign of the company's commitment to its executives.
• The grant has no immediate impact on customers, suppliers, or creditors.

Next Steps

• McNiven will continue to work at Tetra Technologies Inc. to fulfill the vesting requirements of the RSUs.
• Tetra Technologies Inc. will monitor McNiven's continued service to ensure compliance with the vesting schedule.
• The company will deliver vested shares or cash equivalent on the settlement dates.

Key Dates

Keywords

Restricted Stock Units, RSU, Tetra Technologies Inc., Roy McNiven, Equity Incentive Plan, Vesting, SEC Form 4, Compensation