Mitchell John J 4
Research Summary
AI-generated summary
ProPetro (PUMP) GC John J. Mitchell Receives Award; Shares Withheld
What Happened
John J. Mitchell, General Counsel & Corporate Secretary of ProPetro Holding Corp. (PUMP), received 44,933 shares on 2026-01-19 upon vesting and settlement of previously awarded performance stock units (PSUs). Of those shares, 11,779 were withheld to satisfy tax withholding at a reported value of $10.29 per share, yielding $121,206. The award shares were reported at $0.00 acquisition price; net shares retained after withholding = 33,154.
Key Details
- Transaction date: 2026-01-19 (reported on Form 4 filed 2026-01-21) — appears timely.
- Award/acquisition: 44,933 shares acquired (code A) at $0.00 (vesting/settlement of PSUs).
- Tax withholding/disposition: 11,779 shares withheld (code F) at $10.29 = $121,206.
- Net shares retained from the settlement: 33,154 (44,933 − 11,779).
- Footnotes: F1 = shares delivered upon vesting/settlement of PSUs; F2 = shares withheld to satisfy taxes.
- Shares owned after the transaction: not specified in the provided excerpt of the filing.
Context
This was a PSU vesting/settlement and associated tax-withholding transaction — a routine, non-market sale used to cover taxes (often called cashless withholding). It does not reflect an open-market sale or a discretionary purchase by the insider and therefore should be interpreted as compensation settlement rather than a directional insider trade.