Hornbeck Offshore (HOS) Former VP/CAO Brent Arriaga Converts RSUs for Cash

What Happened

• Brent Alexander Arriaga, former VP and CAO of Hornbeck Offshore Services, converted/exercised derivative awards (restricted stock units) into cash as part of the merger agreement. He converted 3 separate RSU tranches totaling 50,258 shares (4,054; 14,306; 31,898). The merger provided cash payment equal to $10.30 per share, for a total of approximately $517,657.40. The transactions are reported as "M" (exercise/conversion of derivative).

Key Details

• Transaction date: 2026-09-01 (filed 2026-09-02).
• Exercise price shown: $0.00 (derivative conversion); cash settlement price per footnote: $10.30 (NY price on trading day before closing).
• Shares converted: 4,054; 14,306; 31,898 — total 50,258.
• Cash received (per footnote): 50,258 × $10.30 = $517,657.40.
• Shares owned after transaction: not reported in the Form 4; filing notes the reporting person is no longer subject to Section 16 with respect to Hornbeck and will not report further transactions.
• Footnotes: conversions were cash-outs under the Merger Agreement; the RSUs were Parent RSU Awards from 2024, 2025 and 2026 with vesting/forfeiture schedules described in the filing.
• Timeliness: filing appears timely (no late filing indicated).

Context

• These were RSU conversions/cash settlements tied to a corporate merger (not an open-market sale or discretionary buy). The derivative code M denotes exercise/conversion of awards; in this case the awards were canceled and paid in cash under the Merger Agreement.
• The filing notes Arriaga will no longer be subject to Section 16 reporting for Hornbeck following the merger, so further insider Forms 4/5 for this issuer are not expected.