CNX Resources (CNX) CEO vests 39.8K performance share units
Rhea-AI Filing Summary
CNX Resources Corp President & CEO Alan K. Shepard reported the vesting and exercise of the first tranche of 39,771 Performance Share Units (PSUs) granted on August 1, 2023, converting into an equal number of common shares. To cover related taxes, 17,297 common shares were automatically withheld at $35.38 per share. Following this vesting and the forfeiture of 56,062 target PSUs that were not earned, Shepard now holds 287,501 PSUs outstanding, which may vest in additional tranches over approximately seven years if CNX common stock achieves specified price targets. Of the common shares he owns directly, 86,856 are restricted stock units, including associated dividend equivalent rights.
Positive
- None.
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Insider Trade Summary
Net Buyer: 22,474 shares
Net Buy
3 txns
Insider
Shepard Alan K
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units F4, F1, F5 | 39,771 | $0.00 | $0.00 |
| Exercise | Common shares, $0.01 par value per share F1 | 39,771 | $0.00 | $0.00 |
| Tax Withholding | Common shares, $0.01 par value per share F2, F3 | 17,297 | $35.38 | $612K |
Holdings After Transaction:
Performance Share Units — 287,501 shares (Direct);
Common shares, $0.01 par value per share — 281,895 shares (Direct)
Footnotes (5)
- F1. Represents the vesting of the first tranche of Performance Share Units ("PSUs") granted to the reporting person on August 1, 2023.
- F2. Represents shares automatically withheld to satisfy the reporting person's tax liability from the vesting of PSUs previously granted to him.
- F3. Of the shares owned directly, 86,856 are restricted stock units (including dividend equivalent rights).
- F4. Each Performance Share Unit ("PSU") represents a contingent right to receive one share of common stock. The PSUs vest upon the common stock of CNX Resources achieving certain pre-determined prices per share in three tranches over approximately seven years.
- F5. The remaining PSUs have been further reduced by 56,062 target PSUs, which were not earned in the first tranche, and for which the reporting person has no further vesting opportunity.
Key Figures
PSUs vested and converted: 39,771 shares
Shares withheld for taxes: 17,297 shares
Tax withholding price: $35.38 per share
+5 more
8 metrics
PSUs vested and converted
39,771 shares
First tranche of Performance Share Units granted August 1, 2023
Shares withheld for taxes
17,297 shares
Shares automatically withheld upon PSU vesting to satisfy tax liability
Tax withholding price
$35.38 per share
Price used for common shares withheld to cover tax liability
Remaining PSUs
287,501 units
Performance Share Units remaining outstanding after vesting and forfeiture
Forfeited target PSUs
56,062 units
Target PSUs not earned in the first tranche; no further vesting opportunity
Direct RSU holdings
86,856 shares
Restricted stock units, including dividend equivalent rights, owned directly
Transaction date
2026-08-13
Date of PSU vesting, share issuance, and tax withholding transactions
PSU expiration
2030-07-31
Expiration date applicable to the Performance Share Units award
Key Terms
Performance Share Units, restricted stock units, dividend equivalent rights, tax liability, +1 more
5 terms
restricted stock units financial
"Of the shares owned directly, 86,856 are restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent rights financial
"86,856 are restricted stock units (including dividend equivalent rights)."
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
tax liability financial
"Represents shares automatically withheld to satisfy the reporting person's tax liability"
contingent right financial
"Each Performance Share Unit ("PSU") represents a contingent right to receive one share"
FAQ
What insider transaction did CNX (CNX) CEO Alan K. Shepard report on August 13, 2026?
Alan K. Shepard reported the vesting of 39,771 Performance Share Units, converting into the same number of CNX common shares. These PSUs are part of a long-term equity award granted on August 1, 2023, tied to CNX share-price performance over several years.
What portion of Alan K. Shepard’s direct CNX (CNX) holdings are restricted stock units?
Of Alan K. Shepard’s directly owned CNX equity, 86,856 shares are in the form of restricted stock units. This figure includes related dividend equivalent rights that accrue alongside the restricted stock unit awards.
AI-generated analysis. How Rhea-AI works. Not financial advice.
