Form 4: W&T Offshore VP Acquires Restricted Stock Units
SEC Form 4
Bart P. Hartman III, VP & Chief Accounting Officer of W&T Offshore, reports acquisition of restricted stock units.
Summary
- Bart P. Hartman III, VP & Chief Accounting Officer of W&T Offshore Inc. (WTI), filed a Form 4 on May 20, 2025, reporting a transaction on May 16, 2025.
- Hartman acquired 60,593 restricted stock units (RSUs) representing a contingent right to receive one share of WTI common stock or its cash equivalent.
- The RSUs vest in three equal installments: 1/3 on May 16, 2026, 1/3 on May 16, 2027, and 1/3 on May 16, 2028.
- Following the transaction, Hartman directly owns 60,593 derivative securities.
Sentiment
Score: 6
Explanation: Neutral sentiment as it reflects a standard executive compensation practice. The acquisition of RSUs is neither overwhelmingly positive nor negative.
Positives
- The acquisition of restricted stock units by a company executive can be seen as a positive sign, aligning the executive's interests with those of the shareholders.
Future Outlook
The vesting schedule of the restricted stock units indicates a multi-year incentive plan for the executive.
Industry Context
This is a standard practice for incentivizing executives in publicly traded companies, particularly in the oil and gas industry.
Comparison to Industry Standards
- Granting restricted stock units is a common compensation practice among publicly traded companies, including W&T Offshore's peers in the oil and gas sector.
- Companies like Apache, Occidental Petroleum, and EOG Resources also utilize RSUs as part of their executive compensation packages to align management's interests with shareholder value.
Stakeholder Impact
- Shareholders may view this as a positive sign, aligning management's interests with the company's long-term performance.
- Employees may see this as a sign of stability and commitment from the executive team.
Key Dates
| Date | Description |
|---|---|
| 05/16/2025 | Date of transaction: Acquisition of restricted stock units. |
| 05/16/2026 | First vesting date: 1/3 of the restricted stock units vest. |
| 05/16/2027 | Second vesting date: 1/3 of the restricted stock units vest. |
| 05/16/2028 | Final vesting date: 1/3 of the restricted stock units vest. |
| 05/20/2025 | Date of Form 4 filing. |
Keywords
W&T Offshore, restricted stock units, Form 4, insider trading, executive compensation, WTI, Hartman, stock options
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