Smith Kevin William 4
4 · Coterra Energy Inc. · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
Coterra (CTRA) SVP & CTO Kevin W. Smith Receives Stock Awards
What Happened
Kevin W. Smith, Senior Vice President & Chief Technology Officer of Coterra Energy (CTRA), received equity awards on February 24, 2026: 52,460 restricted stock units (RSUs) and 52,460 performance stock units (PSUs). The Form 4 reports these as awards at $0.00 (no cash paid at grant). RSUs and PSUs are equity compensation, not open-market purchases or sales.
Key Details
- Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (appears timely).
- RSUs: 52,460 units granted (see footnote F1); vested January 31, 2029 per award terms.
- PSUs (derivative): 52,460 units granted (see footnotes F2–F4); represent contingent rights to up to one share each (payable in stock up to 100%); performance period Feb 1, 2026–Jan 31, 2029. PSUs may vest between 0% and 200%; amounts above 100% are paid in cash (fair market value).
- Form 4 shows acquisition value $0 for both grants (standard for equity awards at grant).
- Shares owned after the transaction are not specified in the provided excerpt.
Context
RSUs and PSUs are common long-term incentive compensation for executives; they vest based on time (RSUs) and performance (PSUs) and do not indicate an immediate buy or sell by the insider. PSUs are contingent on meeting multi-year performance goals and can result in share issuance (or cash for over-performance), so the ultimate number of shares received may differ from the grant count.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-24+52,460→ 164,562 total - Award
Performance Stock Units
[F2][F3][F4]2026-02-24+52,460→ 52,460 total→ Common Stock (52,460 underlying)
Footnotes (4)
- [F1]Represents restricted stock units payable solely in common stock. Subject to the terms of the restricted stock unit award agreement, these restricted stock units vest on January 31, 2029.
- [F2]Each performance stock unit represents a contingent right to receive one share of common stock (up to 100% of the performance stock units awarded) and cash equal to the Fair Market Value (as defined in the performance stock unit award agreement) of one share of common stock for vesting above 100%.
- [F3]Represents the number of performance stock units awarded on February 24, 2026.
- [F4]The performance stock unit award agreement provides for vesting between 0% and 200% of the performance stock units granted (payable in common stock up to 100% of the performance stock units granted and, for vesting above 100%, in cash) based upon the achievement of certain performance criteria over a three-year performance period beginning February 1, 2026 and ending January 31, 2029.