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Drilling Tools International Corp·4

Mar 12, 4:01 PM ET

Johnson David Richard 4

Research Summary

AI-generated summary

Updated

Drilling Tools (DTI) CFO David R. Johnson Receives Awards & Exercises Options

What Happened

  • David R. Johnson, Chief Financial Officer of Drilling Tools International Corp (DTI), reported derivative exercises/conversions that resulted in 30,964 shares acquired (reported at $0) and received equity awards on Feb 27–28, 2026: 37,336 restricted stock units (RSUs) and 112,009 performance stock units (PSUs). All transactions in the filing show $0 cash paid/received.

Key Details

  • Transaction dates and types:
    • Feb 28, 2026 — Exercise/conversion of derivative(s) resulting in 30,964 shares (transaction code M), reported at $0.00 per share.
    • Feb 27, 2026 — Grant of 37,336 RSUs (transaction code A), reported at $0.00.
    • Feb 27, 2026 — Grant of 112,009 PSUs (transaction code A), reported at $0.00.
  • Shares owned after transaction: Not specified in the provided filing excerpt.
  • Relevant footnotes from the filing:
    • RSUs represent a contingent right to receive one share each; the RSUs granted on Feb 27, 2026 vest in substantially equal installments over the first three anniversaries of the grant (subject to continued service).
    • PSUs represent a contingent right to receive one share each and vest based on EBITDA performance over a three‑year period; threshold pays 50% and maximum pays 200%, with an annual reset.
    • The filing notes that all shares subject to the related stock options are vested.
  • Filing timeliness: The report covers transactions dated Feb 27–28, 2026 and was filed on Mar 12, 2026, which is later than the typical two-business-day Form 4 filing window (filing appears late).

Context

  • These filings reflect acquisitions/awards (not sales). The exercise/conversion entry (M) indicates the reporting person converted or exercised derivative rights into common shares — the $0 price in the report means no cash payment was reported on the form, but does not by itself explain the economic terms (e.g., whether this was a net settlement, previously vested option exercise, or conversion of units). PSUs are performance‑based and will only convert to shares if performance conditions are met.