HORNBECK (HOS) CEO Todd Hornbeck Receives RSU and PRSU Awards

What Happened

• Todd M. Hornbeck, President and Chief Executive Officer of Hornbeck Offshore Services (HOS), received equity awards on 2026-09-02 totaling 1,900,000 stock units. The awards were reported as grants (code A) at $0 per unit (no cash paid):
  • 225,000 restricted stock units (RSUs) — vesting on September 1, 2029 (F1).
  • 675,000 performance-based RSUs (PRSUs) — vesting December 31, 2029 based on specified annualized gross synergies (F2).
  • Two PRSU tranches of 500,000 each (total 1,000,000) — each PRSU can pay up to two shares upon vesting on staggered dates (multiple dates in 2028–2029) based on specified stock-price targets (F3).
• These are grants (compensation awards), not open‑market purchases or sales.

Key Details

• Transaction date: 2026-09-02; Form 4 filed 2026-09-04 (appears timely).
• Price: $0.00 per unit (standard for awarded RSUs/PRSUs); reported cash value = $0.
• Total units granted: 1,900,000 (225k RSU; 1.675M PRSU across two performance programs).
• Shares owned after transaction: not specified in the summary data provided.
• Notable footnotes:
  • F1: RSUs convert to one share each upon vesting (9/1/2029).
  • F2: PRSUs convert to one share each if performance target tied to gross synergies is met (12/31/2029).
  • F3: PRSUs may convert to up to two shares per unit, vesting on multiple dates if stock-price targets are met.
• No indication this was an option exercise, sale, gift, or tax-withholding event.

Context

• These awards are typical executive compensation grants and do not represent an immediate market purchase or sale. The ultimate value to the CEO depends on future vesting and performance conditions (time-based vesting for RSUs and performance/stock-price hurdles for PRSUs). Retail investors should view them as potential future dilution and as part of executive pay alignment with company performance, not as an immediate insider buy/sell signal.