Form 4: USA Compression Partners CEO Eric Long Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Eric D. Long, CEO of USA Compression Partners, sold common units of the company on February 27 and 28, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Eric D. Long, the CEO of USA Compression Partners, sold common units of the company on February 27 and 28, 2024.
- The sales were executed under a Rule 10b5-1 trading plan established on November 13, 2023.
- On February 27, 2024, he sold 43,725 common units at a weighted average price of $24.58, within a price range of $24.50 to $24.70.
- On February 28, 2024, he sold 5,320 common units at a weighted average price of $24.66, within a price range of $24.525 to $24.82.
- Following these transactions, Long directly owns 307,026 common units.
- He also indirectly owns 23,182 common units through the Alex B Long Trust, 33,182 through the Adam Ericson Long Trust, and 17,592 through Aladdin Partners, L.P.
- Long is the President, Chief Executive Officer and Director of USA Compression GP, LLC, the general partner of USA Compression Partners.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an executive. It's neutral in tone and doesn't inherently suggest positive or negative sentiment.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, potentially impacting the stock price.
Industry Context
Sales by executives are a normal part of corporate governance, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares at predetermined times and prices, avoiding concerns about trading on inside information.
Stakeholder Impact
- Shareholders may react to the news of executive stock sales, although the impact is often mitigated when sales are conducted under a pre-arranged trading plan.
Key Dates
| Date | Description |
|---|---|
| April 17, 2007 | Date of agreements for Alex B. Long Trust and Adam Ericson Long Trust |
| November 13, 2023 | Date the Rule 10b5-1 trading plan was entered into by the Reporting Person |
| February 27, 2024 | Date of first reported transaction: sale of 43,725 common units |
| February 28, 2024 | Date of second reported transaction: sale of 5,320 common units |
| February 29, 2024 | Date of signature on the Form 4 filing |
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.