Form 4: Tetra Technologies SVP Acquires 37,019 Restricted Stock Units in Lieu of Cash Bonus
SEC Form 4
Timothy C. Moeller, SVP of Supply Chain & Chemicals at Tetra Technologies, acquired 37,019 restricted stock units (RSUs) on March 15, 2024, in lieu of a portion of his 2023 annual bonus.
Summary
- On March 15, 2024, Timothy C. Moeller, SVP of Supply Chain & Chemicals at Tetra Technologies, acquired 37,019 restricted stock units (RSUs).
- These RSUs were granted in lieu of a portion of his 2023 annual bonus.
- The RSUs were granted pursuant to the TETRA Technologies, Inc. Second Amended and Restated 2018 Equity Incentive Plan.
- Each RSU represents the contingent right to receive one share of Tetra Technologies' common stock upon vesting.
- The closing price of Tetra Technologies' common stock on the date of the RSU award was $4.27.
- One hundred percent of the award will vest on March 15, 2025, subject to continued service on the vesting date.
- Vested shares will be delivered to the reporting person on the settlement date unless the Issuer elects to settle the RSUs in cash, or a combination of shares and cash, in the Issuer's sole discretion.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The granting of RSUs is a standard practice, and the executive's acceptance of RSUs in lieu of cash suggests confidence in the company's future.
Positives
- The acquisition of RSUs by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.
- Settling a portion of the annual bonus in RSUs aligns the executive's interests with those of the shareholders.
Future Outlook
The RSUs will vest on March 15, 2025, subject to continued service, and the company has the option to settle the RSUs in shares, cash, or a combination of both.
Industry Context
The use of RSUs is a common practice in executive compensation, particularly in publicly traded companies, to align management's interests with those of shareholders and incentivize long-term performance.
Stakeholder Impact
- The granting of RSUs to a key executive could positively impact shareholder sentiment by aligning management's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of RSU transaction |
| 03/15/2025 | Vesting date of the RSUs |
| 03/19/2024 | Date of Form 4 signature |
| 03/31/2025 | Expiration date of the RSUs |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.