Hurstak Daniel J 4
4 · UNITIL CORP · Filed Jan 29, 2026
Research Summary
AI-generated summary of this filing
Unitil (UTL) CFO Daniel Hurstak Receives Stock Awards
What Happened
Daniel J. Hurstak, Unitil Corporation’s SVP, Chief Financial Officer & Treasurer, received multiple stock awards on January 27, 2026. The Form 4 shows: two grants of 2,430 shares each reported at $0.00, one grant of 40 shares at $50.00 (value $2,000), and a 1,215-share derivative/contingent award reported with no per-share price. These were reported as awards/grants (transaction code A) — company compensation, not open-market purchases or sales.
Key Details
- Transaction date: 2026-01-27; Form 4 filed 2026-01-29 (appears timely under Form 4 rules).
- Grants reported:
- 2,430 shares @ $0.00 (Acquired) — grant type per F1 (restricted stock; typically vests 25% per year over four years).
- 2,430 shares @ $0.00 (Acquired) — likely a different award tranche (see footnotes).
- 40 shares @ $50.00 (Acquired) — total reported value $2,000.
- 1,215 shares @ N/A (Acquired, derivative/contingent award) — tied to performance criteria.
- Shares owned after the transaction: not specified in the provided excerpt of the filing.
- Notable footnotes:
- F1: Some shares vest 25% per year over four years; valued at market price when they vest.
- F2/F3: Other awards are performance-based (three-year performance periods); some grants were issued at the conclusion of the 2023–2025 performance period and valued at market on grant.
- F4/F5 relate to dividend reinvestment and potential future performance grants.
Context
These entries are compensation awards (A) rather than purchases or sales — common for executive pay and not a direct market signal like an open-market buy. The 1,215-share item is a derivative/contingent award tied to performance metrics; such awards vest only if performance goals are met. No sales or option exercises were reported in this filing.
Insider Transaction Report
- Award
Common stock, no par value
[F1]2026-01-27+2,430→ 0 total - Award
Common stock, no par value
[F2]2026-01-27+2,430→ 0 total - Award
Common stock, no par value
[F3][F4]2026-01-27$50.00/sh+40$2,000→ 20,089.37 total - Award
Contingent grant of common stock
[F5]2026-01-27+1,215→ 3,330 total→ Common stock (1,215 underlying)
Footnotes (5)
- [F1]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest 25% per year over four years from date of grant. Shares will be valued at current market price on date of vesting.
- [F2]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest after three-year performance period based on the attainment of certain performance thresholds of certain performance goals. Shares will be valued at current market price on date of vesting.
- [F3]Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares were granted at the conclusion of the 2023-2025 performance period based on the attainment of certain performance thresholds of certain performance goals. Shares were valued at current market price on date of grant. The balance of the contingent grant for such performance period terminated.
- [F4]Includes114.625 shares of common stock acquired on February 28, 2025, 121.718 shares of common stock acquired on May 30, 2025, 140.309 shares of common stock acquired on August 28, 2025 and 135.571 shares of common stock acquired on November 28, 2025, in each case resulting from the reinvestment of dividends pursuant to Unitil Corporation's Dividend reinvestment and Stock Purchase Plan.
- [F5]Shares may be granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Any such shares would be granted after a three-year performance period ending on December 31, 2028, based on the attainment of certain performance thresholds of certain performance goals. Any such shares would be valued at current market price on date of grant.