Pope Trent 4
4 · Drilling Tools International Corp · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Drilling Tools (DTI) VP Trent Pope Receives Awards, Exercises Options
What Happened
- Trent Pope, Vice President — Wellbore Optimization at Drilling Tools International (DTI), acquired 30,000 shares via exercise/conversion of derivative instruments on Feb 28, 2026 (two entries of 15,000 each) at $0.00 per share. He was also granted 22,502 restricted stock units (RSUs) and 67,505 performance stock units (PSUs) on Feb 27, 2026. All transactions are reported as acquisitions/awards (not sales); reported cash value for the exercises and grants is $0.00.
Key Details
- Transaction dates and prices:
- Feb 27, 2026: Granted 22,502 RSUs and 67,505 PSUs (grant price $0.00).
- Feb 28, 2026: Exercised/converted derivatives totaling 30,000 shares (two 15,000 entries) at $0.00.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- RSUs/PSUs: RSUs represent contingent rights to receive one share each; PSUs represent contingent rights subject to performance goals (see below).
- The 22,502 RSUs (Feb 27, 2026 grant) vest in substantially equal installments on each of the first three anniversaries of the grant date, subject to continued service.
- The 67,505 PSUs vest based on EBITDA performance (100% weighting), with an annual reset over a three‑year performance period; threshold achievement yields a 50% payout opportunity and maximum yields 200%.
- A separate note describes prior option vesting schedule (two‑thirds vested over first two anniversaries, remaining one‑third on the third anniversary — Feb 14, 2024), relevant to the derivative conversion history.
- Filing timing: Form 4 was filed Mar 12, 2026 for transactions on Feb 27–28, 2026 — notably later than the typical two-business-day filing window; this may be considered a late filing.
Context
- The exercised/converted derivative shares were acquired at no cash cost per the filing ($0.00 reported), suggesting conversion of vested options or similar derivative instruments rather than an open-market purchase. The RSUs are time‑based awards; PSUs are performance-based and will only convert to shares depending on EBITDA results over the performance period. These entries are awards/acquisitions (compensation and option exercise), not sales — common insider compensation activity and not an immediate buy/sell market signal.
Insider Transaction Report
Form 4
Pope Trent
See Remarks
Transactions
- Exercise/Conversion
Common Stock
2026-02-28+15,000→ 15,000 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-28+15,000→ 45,000 total→ Common Stock (15,000 underlying) - Award
Restricted Stock Units
[F1][F3]2026-02-27+22,502→ 22,502 total→ Common Stock (22,502 underlying) - Award
Performance Stock Units
[F4][F5]2026-02-27+67,505→ 67,505 total→ Common Stock (67,505 underlying)
Holdings
- 75,000
Stock Option (Right to Buy)
[F6]→ Common Stock
Footnotes (6)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Drilling Tools International Corp's (the "Company") common stock.
- [F2]The RSUs vest in substantially equal installments on each of the first four (4) anniversaries of the grant date, February 28, 2025.
- [F3]On February 27, 2026, the reporting person was granted 22,502 RSUs under the Company's 2023 Omnibus Incentive Plan, as may be amended from time to time (the "Plan"), pursuant to the 2026 long-term incentive program approved by the Board of Directors (the "2026 LTIP"). The RSUs vest in substantially equal installments on each of the first three (3) anniversaries of the grant date, subject to continued service.
- [F4]Each performance stock unit ("PSU") represents a contingent right to receive one share of the Company's common stock.
- [F5]On February 27, 2026, the reporting person was granted 67,505 PSUs under the Plan, pursuant to the 2026 LTIP. The PSUs are subject to the achievement of performance conditions based on EBITDA, weighted at 100%, with annual reset over a three-year performance vesting period. Achievement at threshold results in a 50% payout opportunity, while achievement at maximum results in a 200% payout opportunity.
- [F6]Two-thirds (2/3) of the stock options have vested in substantially equal installments on each of the first two (2) anniversaries of the grant date, with the remaining one-third (1/3) scheduled to vest on the third (3rd) anniversary of the grant date, February 14, 2024.
Signature
/s/ Trent Pope|2026-03-12