Schmitz John 4

What Happened
John Schmitz, President, CEO and Director of Select Water Solutions, received 125,590 shares on March 5, 2026 upon vesting of performance share units (PSUs). The award was reported as an acquisition at $0 (PSUs converting to common shares). The company withheld 49,420 of those shares to satisfy tax withholding obligations — those withheld shares were reported as a disposition at $14.03 per share (totaling $693,363). Net shares delivered to Schmitz after withholding were 76,170. The implied market value of the vested shares at $14.03 would be about $1.76M (approx).

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely — within required business-day window).
• Award: 125,590 shares reported as an award/acquisition (PSUs vested) — reported at $0 acquisition price (footnote F1).
• Tax withholding: 49,420 shares withheld to satisfy tax obligations, disposed at $14.03/share for $693,363 (footnote F2). This withholding is routine and not an open-market sale.
• Net shares received: 76,170 (125,590 − 49,420).
• Holdings: Some shares are held directly by the John David Schmitz 2024 Annuity Trust and the Sandra Lee Schmitz 2024 Annuity Trust, of which Schmitz is trustee (footnotes F3, F4).
• Filing timeliness: No late filing indicated.

Context
This was a vesting of previously granted performance share units (PSUs) after the performance conditions were met (not a market purchase). The 49,420-share "disposition" reflects shares withheld for taxes (a common, administrative step), not an active sale on the open market — therefore it should not be read as a bearish sell signal.