Flowco Holdings (FLOC) EVP granted RSUs and performance-based PRSUs
Rhea-AI Filing Summary
Flowco Holdings Inc. reported an insider equity award for an officer serving as EVP, Production Solutions. The officer acquired 29,508 Class A common stock RSUs at a price of $0, bringing their directly held Class A common stock to 201,798 shares after the transaction. These RSUs vest in three equal installments on the first, second, and third anniversaries of the grant date, with accelerated vesting after a change in control.
The officer was also granted 39,344 performance-based restricted stock units (PRSUs), each tied to one share of Class A common stock, at an exercise price of $0. These PRSUs vest on the third anniversary of the grant date, can range from 0% to 200% of the target grant depending on performance conditions, and have accelerated vesting following a change in control. Following this grant, the officer beneficially owned 39,344 derivative securities directly.
Positive
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FAQ
What insider equity awards were reported for Flowco Holdings Inc. (FLOC)?
The filing reports that a Flowco Holdings Inc. officer received 29,508 restricted stock units (RSUs) of Class A common stock and 39,344 performance-based restricted stock units (PRSUs), each representing the right to receive one share of Class A common stock.
What is the role of the reporting person at Flowco Holdings Inc. (FLOC)?
The reporting person is an officer of Flowco Holdings Inc., serving as EVP, Production Solutions, as indicated in the relationship section of the filing.
How do the RSUs granted to the Flowco Holdings Inc. officer vest?
The 29,508 RSUs vest in three equal installments on the first, second, and third anniversaries of the grant date, with vesting accelerating upon a change in control of Flowco Holdings Inc.
How do the PRSUs granted at Flowco Holdings Inc. (FLOC) work?
Each PRSU represents a contingent right to receive one share of Flowco Holdings Inc. Class A common stock, subject to performance conditions. The filing notes an amount of 39,344 PRSUs that were granted and vested at 200% of target, with PRSUs vesting on the third anniversary of the award grant date and ranging from 0%–200% of target.
What was the acquisition price for the RSUs and PRSUs at Flowco Holdings Inc.?
Both the 29,508 RSUs and the 39,344 PRSUs reported in the filing were acquired at a price of $0 per unit, consistent with typical equity incentive awards.
How many Flowco Holdings Inc. shares does the officer own after this transaction?
After the reported transaction, the officer directly beneficially owned 201,798 shares of Flowco Holdings Inc. Class A common stock and 39,344 derivative securities (the PRSUs), as stated in the filing tables.