Stetson Glenn W 4
4 · Matador Resources Co · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Matador (MTDR) EVP Glenn Stetson Receives Award & Exercises Units
What Happened
- Glenn W. Stetson, EVP‑Production of Matador Resources (MTDR), had a mix of derivative and withholding transactions in mid‑February 2026. The filing shows a cash settlement of 6,000 phantom units (exercise/conversion) and a new award/acquisition of 27,000 derivative units. The filing also shows 1,312 and 1,050 shares were withheld by the issuer to satisfy tax liabilities on vesting restricted stock (total withheld = 2,362 shares).
- Cash and value details: the phantom units were settled at $47.80 per unit (per the filing), so 6,000 units generated about $286,800 cash (footnote F5). The withheld 2,362 shares equal about $112,904 at $47.80/share. The newly reported 27,000 derivative units were granted/acquired at $0 cost (derivative award).
Key Details
- Transaction dates and prices:
- 2026-02-14: 6,000 phantom units exercised/converted; cash-settled at $47.80/unit (per footnote F5) ≈ $286,800.
- 2026-02-14: 1,312 shares withheld @ $47.80 to cover taxes (F1) = $62,714.
- 2026-02-16: 1,050 shares withheld @ $47.80 to cover taxes (F3) = $50,190.
- 2026-02-17: Grant/acquisition of 27,000 derivative units @ $0 (award).
- Shares owned after the transactions: not disclosed in the provided filing excerpt.
- Notable footnotes:
- Withheld shares were used to satisfy tax liabilities on vesting restricted stock; no open‑market sales by the reporting person to cover taxes (F1, F3).
- Phantom units are the economic equivalent of one share each; they vest in equal annual installments over three years (F5–F8).
- The 6,000‑unit settlement was cash‑settled per the issuer at $47.80/unit (F5).
- Some items referenced include acquisitions under the Employee Stock Purchase Plan and prior restricted stock grants (F2, F4).
- Filing timeliness: Form filed 2026-02-18 for transactions through 2026-02-17; the filing shows no indication of a late filing in the excerpt.
Context
- Derivative explanation: "Phantom units" are cash‑settled awards that track share value; in this case, a partial vesting/settlement paid cash rather than issuing stock (so no new common shares were sold into the market for that settlement).
- The withheld shares reflect tax withholding on vesting restricted stock (a routine administrative action), not an open‑market sale by the insider — these actions are generally not treated as a bearish signal.
- The most informative item here is the acquisition/award of 27,000 derivative units (future economic exposure), while the cash settlement and tax withholding are administrative outcomes of vesting.
Insider Transaction Report
Form 4
Stetson Glenn W
EVP-Production
Transactions
- Tax Payment
Common Stock
[F1][F2]2026-02-14$47.80/sh−1,312$62,714→ 95,520 total - Tax Payment
Common Stock
[F3][F4]2026-02-16$47.80/sh−1,050$50,190→ 94,470 total - Exercise/Conversion
Phantom Units
[F5][F6]2026-02-14−6,000→ 12,000 total→ Common Stock (6,000 underlying) - Award
Phantom Units
[F7][F8]2026-02-17+27,000→ 27,000 total→ Common Stock (27,000 underlying)
Footnotes (8)
- [F1]Represents shares withheld by the Issuer in connection with the reporting person's net share settlement to satisfy tax liability upon the vesting of 3,333 shares of restricted stock that were granted to the reporting person on February 14, 2024. No shares were sold by the reporting person to satisfy this tax liability.
- [F2]Includes (i) shares acquired pursuant to the Issuer's Employee Stock Purchase Plan; such acquisitions are exempt under Rule 16b-3; (ii) 3,333 shares of restricted stock granted to the reporting person on February 14, 2024 that vest in equal annual installments on the second and third anniversaries of the date of grant; and (iii) 2,667 shares of restricted stock granted to the reporting person on February 16, 2023 that vest on the third anniversary of the date of grant.
- [F3]Represents shares withheld by the Issuer in connection with the reporting person's net share settlement to satisfy tax liability upon the vesting of 2,667 shares of restricted stock that were granted to the reporting person on February 16, 2023. No shares were sold by the reporting person to satisfy this tax liability.
- [F4]Includes (i) shares acquired pursuant to the Issuer's Employee Stock Purchase Plan; such acquisitions are exempt under Rule 16b-3; and (ii) 3,333 shares of restricted stock granted to the reporting person on February 14, 2024 that vest in equal annual installments on the second and third anniversaries of the date of grant.
- [F5]Each phantom unit is the economic equivalent of one share of the Issuer's common stock. As required by the terms of the award, upon the February 14, 2026 partial vesting of such award, the reporting person settled the phantom units for cash at a rate of $47.80 per unit based upon the closing price of the Issuer's common stock on February 13, 2026. No shares of common stock were issued to nor sold by the reporting person pursuant to this transaction.
- [F6]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant, February 14, 2025.
- [F7]Each phantom unit is the economic equivalent of one share of the Issuer's common stock.
- [F8]The phantom units vest in equal annual installments on the first, second and third anniversaries of the date of grant.
Signature
/s/ Glenn W. Stetson, by Cale L. Curtin as attorney-in-fact|2026-02-18