Form 4: W&T Offshore Director Stanley B Frank Reports Stock Transactions

Director Stanley B Frank of W&T Offshore Inc. reports the vesting and conversion of restricted stock units into common stock, along with the grant of additional restricted stock units.

Summary

• On June 17, 2024, W&T Offshore Inc. Director Stanley B Frank vested 38,760 restricted stock units, receiving an equivalent number of common stock shares.
• Following this transaction, Frank directly owns 319,733 shares of W&T Offshore common stock.
• On June 14, 2024, Frank was granted 73,892 restricted stock units, which will vest on the earlier of June 14, 2025, or the date of W&T Offshore's next annual shareholder meeting, subject to certain conditions.
• Each restricted stock unit represents a contingent right to receive one share of common stock or its cash equivalent, as determined at the time of settlement by WTI.
• Frank has also granted Steven Lackey power of attorney to execute SEC filings on his behalf related to W&T Offshore securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Positives

• The vesting of restricted stock units and subsequent receipt of common stock indicates confidence in the company's future performance from a director's perspective.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's financial performance or future prospects beyond the vesting schedule of the restricted stock units.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their holdings in the company's stock.

Stakeholder Impact

• Shareholders are informed about the director's stock transactions, providing transparency into insider activity.

Key Dates