Smith Kevin William 4

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.