Form 4: Tetra Technologies Inc. Executive Roy McNiven Reports Stock Transactions
SEC Form 4
Roy McNiven, a Senior Vice President at Tetra Technologies Inc., reported the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On February 25, 2025, Roy McNiven, a Senior Vice President of Tetra Technologies Inc., reported transactions involving the company's common stock.
- These transactions included the vesting of 12,753 restricted stock units, which converted into common stock on a one-for-one basis.
- McNiven also surrendered 4,731 shares to cover tax withholding obligations related to the vesting of these restricted stock units at a price of $4.1 per share.
- Following these transactions, McNiven directly owns 67,192 shares of Tetra Technologies Inc. common stock and 25,508 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine insider transaction report, and the sentiment is neutral as it reflects standard compensation practices.
Future Outlook
The remaining unvested portion of this restricted stock unit award will vest every six months until fully vested on February 25, 2026.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in company stock. It is a standard practice for executives to receive stock-based compensation and to manage their holdings in accordance with company policies and securities regulations.
Comparison to Industry Standards
- Stock-based compensation is a common practice across the energy and technology industries to align executive interests with shareholder value.
- Companies like Schlumberger, Halliburton, and Baker Hughes also utilize restricted stock units as part of their executive compensation packages.
- The vesting schedules and tax withholding practices observed in this filing are typical for such arrangements.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- The filing provides transparency regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| August 28, 2022 | Date of Power of Attorney execution, granting Kimberly M. O'Brien the authority to act on behalf of Roy E. McNiven for SEC filings. |
| February 22, 2023 | Date of grant for the restricted stock units that vested on February 25, 2025. |
| February 25, 2025 | Date of the reported transactions: vesting of restricted stock units and surrender of shares for tax withholding. |
| February 25, 2026 | Date when the remaining unvested portion of the restricted stock unit award will be fully vested. |
| February 26, 2025 | Date of signature on the Form 4 by Kimberly M. O'Brien, attorney in fact. |
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