Viets Joshua J. 4
4 · EXPAND ENERGY Corp · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Expand Energy EVP Joshua Viets Exercises Awards, Forfeits Shares
What Happened
Joshua J. Viets, EVP & COO of Expand Energy (EXE), had several equity awards vest and/or convert on March 15, 2026. In total he became entitled to 50,787 shares from vested restricted stock units and performance share units (10,815 RSUs + 13,626 PSUs (absolute) + 1,110 PSUs (relative) + two grants of 12,618 shares). To satisfy tax withholding obligations, 10,190 shares were forfeited/withheld to the issuer (3,728 shares and 6,462 shares), valued at approximately $1,090,534 using the 30‑day VWAP of $107.02. Several performance share units were converted/terminated as part of this process.
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 16, 2026 (timely).
- Awards/Conversions: gross entitlement of 50,787 shares (breakdown above).
- Tax withholding/forfeiture: 3,728 shares ($398,971) and 6,462 shares ($691,563), total forfeited = 10,190 shares (~$1,090,534). VWAP used: $107.02 (30 trading days ending Mar 13, 2026).
- Shares owned after the transactions: not specified in this Form 4.
- Footnotes: RSUs = 1 share per unit (F1); PSUs convert to 0–2 shares depending on performance (F2–F3, F7–F8); forfeitures were to satisfy tax withholding on vesting (F4, F6).
Context/Takeaway
This was a routine vesting/conversion of equity compensation and a tax-withholding withholding (shares surrendered to the company), not an open-market sale. The filing shows conversion of performance share units into common stock and withholding of a portion of shares to meet tax liabilities — a common method executives use to satisfy taxes when awards vest. No purchase or open-market sale by the insider was reported.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-15+10,815→ 72,491 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+13,626→ 86,117 total - Exercise/Conversion
Common Stock
[F3]2026-03-15+1,110→ 87,227 total - Tax Payment
Common Stock
[F4][F5]2026-03-15$107.02/sh−3,728$398,971→ 83,499 total - Tax Payment
Common Stock
[F6][F5]2026-03-15$107.02/sh−6,462$691,563→ 77,037 total - Exercise/Conversion
Performance Share Unit
[F2]2026-03-15−13,626→ 0 totalFrom: 2026-03-15Exp: 2026-03-15→ Common Stock (13,626 underlying) - Exercise/Conversion
Performance Share Unit
[F3]2026-03-15−1,110→ 0 totalFrom: 2026-03-15Exp: 2026-03-15→ Common Stock (1,110 underlying) - Award
Performance Share Unit
[F7]2026-03-15+12,618→ 12,618 totalExp: 2029-03-15→ Common Stock (12,618 underlying) - Award
Performance Share Unit
[F8]2026-03-15+12,618→ 12,618 totalExp: 2029-03-15→ Common Stock (12,618 underlying)
Footnotes (8)
- [F1]Each restricted stock unit represents a contingent right to receive one share of Expand common stock.
- [F2]Each performance share unit represented a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's absolute total shareholder return over the applicable performance period. Effective March 15, 2026, the Reporting Person was entitled to receive 13,626 shares of common stock, before tax withholding obligations.
- [F3]Each performance share unit represented a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's relative total shareholder return over the applicable performance period. Effective March 15, 2026, the Reporting Person was entitled to receive 1,110 shares of common stock, before tax withholding obligations.
- [F4]These shares were forfeited to the issuer to satisfy tax withholding obligations in connection with the partial vesting of a previously disclosed restricted stock unit award.
- [F5]Represents the weighted average volume price, or "VWAP," over the 30 trading days ending on Friday, March 13, 2026.
- [F6]These shares were forfeited to the issuer to satisfy tax withholding obligations in connection with the vesting of a previously disclosed performance share unit award.
- [F7]Each performance share unit represents a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's absolute total shareholder return over the applicable performance period.
- [F8]Each performance share unit represents a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's relative total shareholder return over the applicable performance period.