Brown Daniel E 4
4 · Chord Energy Corp · Filed Jan 26, 2026
Research Summary
AI-generated summary of this filing
Chord Energy (CHRD) CEO Daniel Brown Receives Equity Awards
What Happened
Daniel E. Brown, President, CEO and Director of Chord Energy (CHRD), had 2,007 shares withheld to satisfy tax withholding obligations related to vested restricted stock units (withholding price $95.17; proceeds ~$191,006). On 2026-01-23 he was awarded 21,051 Restricted Stock Units (RSUs) and target awards of 10,525 Performance Share Units (PSUs) and 7,017 Market Stock Units (MSUs) as part of his annual compensation under the company’s 2020 Long Term Incentive Plan.
Key Details
- Transaction dates: 2026-01-22 (tax withholding / disposition of 2,007 shares), 2026-01-23 (grants).
- Withholding sale: 2,007 shares × $95.17 = $191,006 (code F — shares withheld to satisfy tax liability). Withholding based on CHRD closing price on Jan 21, 2026 (footnote F1).
- Grants (code A — awards): 21,051 RSUs (each equals 1 share on vesting); 10,525 target PSUs (performance-based, derivative); 7,017 target MSUs (market-based, derivative). Grant amounts reported; no immediate cash value listed in filing.
- PSUs: payout ranges from 0%–200% of target based on 3-year total shareholder return (TSR) beginning Jan 1, 2026; any earned amount above target is paid in cash rather than additional shares (footnote F3).
- MSUs: payout equals target units multiplied by a TSR-based factor over a three-year period (capped at 200%) (footnote F4).
- Shares owned after these transactions: not specified in the provided filing excerpt — see the Form 4 for total post-transaction holdings.
- Filing: Form 4 was filed 2026-01-26 covering transactions on Jan 22–23 (no late filing flagged in the provided record).
Context
The 2,007-share disposition was a tax-withholding action tied to RSU vesting (routine, not an open-market sale). The RSUs, PSUs and MSUs are grants/contingent awards — PSUs/MSUs are performance-contingent and will only convert to actual shares (if any) after the multi-year performance measurement period. These awards are common executive compensation and do not represent an immediate open-market purchase or sale reflecting a trading decision.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-01-22$95.17/sh−2,007$191,006→ 172,665 total - Award
Common Stock
[F2]2026-01-23+21,051→ 193,716 total - Award
Performance Share Units
[F3]2026-01-23+10,525→ 23,522 total→ Common Stock (10,525 underlying) - Award
Performance Share Units
[F4]2026-01-23+7,017→ 30,539 total→ Common Stock (7,017 underlying)
Footnotes (4)
- [F1]In connection with the vesting and settlement of restricted stock units through the issuance of Issuer's common stock, par value $0.01 per share ("Common Stock") pursuant to the Issuer's 2020 Long Term Incentive Plan ("LTIP"), the Issuer withheld Common Stock that would otherwise have been issued to the Reporting Person to satisfy his tax withholding obligations. The number of shares of Common Stock withheld was determined based on the closing price per share of Common stock on January 21, 2026.
- [F2]The Reporting Person was granted 21,051 Restricted Stock Units by the Issuer as part of his ordinary course annual compensation package pursuant to the Issuer's LTIP. Each Restricted Stock Unit represents a contingent right to receive one share Common Stock.
- [F3]The Reporting Person was granted 10,525 target Performance Share Units ("Target Performance Units") by the Issuer as part of his ordinary course annual compensation package pursuant to the LTIP. Each Performance Share Unit represents a contingent right to receive a number of shares of Common Stock, ranging from zero to 200% of Target Performance Units ("Earned Performance Units"), depending on the Company's total shareholder return ("TSR") over a three-year measurement period beginning January 1, 2026. However, if the number of Earned Performance Units exceeds the number of Target Performance Units, then such excess will be settled in cash rather than Common Stock.
- [F4]The Reporting Person was granted 7,017 target Market Stock Units ("Target MSUs") by the Issuer as part of his ordinary course annual compensation package pursuant to the LTIP. Each Market Stock Unit represents a contingent right to receive a number of shares of Common Stock equal to the Target MSUs multiplied by a factor reflecting the cumulative TSR over a three-year period beginning January 1, 2026, which factor is based on the Company's ending stock price plus cumulative dividends paid for such period divided by the Company's beginning stock price for such period. The number of Market Stock units earned by the Reporting Person shall not exceed 200% of the Target MSUs.