Roberts Chad 4
Research Summary
AI-generated summary
Flowco (FLOC) EVP Chad Roberts Converts 350,000 Units into Shares
What Happened
Chad Roberts, EVP, Production Solutions of Flowco Holdings Inc. (FLOC), acquired 350,000 shares of Class A common stock on May 26, 2026 through the conversion/redemption of an equal number of Flowco MergeCo LLC Common Units that were paired with Class B common shares. The filing shows a corresponding disposition of 350,000 derivative securities (the paired Common Units/Class B interests) recorded at $0.00; no cash purchase price for the Class A shares is reported. This was an exchange/conversion of interests rather than an open-market buy or sale.
Key Details
- Transaction date: 2026-05-26.
- Acquired: 350,000 Class A common shares via conversion (price: N/A).
- Disposed: 350,000 paired Common Unit/Class B interests (recorded at $0.00 — derivative cancellation).
- Shares owned after transaction: not disclosed in the Form 4.
- Footnotes: F1–F2 explain these shares were received upon redemption/exchange of Common Units paired with Class B common stock; under the Restated LLC Agreement each paired interest is exchangeable for one Class A share (or cash at the issuer’s election), and the related Class B shares are generally cancelled on exchange.
- Filing timeliness: Form 4 filed 2026-06-09 for a 2026-05-26 transaction (filed ~14 days after the transaction), which appears to be late relative to the usual Form 4 reporting deadline.
Context
This was a derivative conversion (exchange of LLC common units and associated Class B shares into Class A stock), not a market sale or purchase. Such conversions are typically corporate/structural events under the LLC and charter documents and do not necessarily indicate trading intent or market sentiment by the insider. No tax-withholding, 10b5-1 plan, or cash proceeds are reported in the filing.