Kinetik Holdings (NYSE: KNTK) CFO receives RSU grant and dividend PSUs
Rhea-AI Filing Summary
Howard Trevor reported acquisition or exercise transactions in this Form 4 filing.
Kinetik Holdings Inc. reported equity awards to SVP and Chief Financial Officer Howard Trevor. He received 10,846 restricted stock units that generally vest on July 31, 2028, settling in Class A common stock on a one-for-one basis if he continues service through that date. He also accrued 1,150 dividend equivalent Performance Share Units tied to a prior PSU grant, which will pay out in Class A common stock as the underlying PSUs vest. Following these awards, he directly holds 260,641 shares of Class A common stock and 19,782 PSUs, each ultimately payable in one share of Class A common stock, subject to their vesting conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 10,846 shares
Net Buy
2 txns
Insider
Howard Trevor
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Share Units F2 | 1,150 | $0.00 | $0.00 |
| Grant/Award | Class A Common Stock, par value $0.001 F1 | 10,846 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Share Units — 19,782 shares (Direct);
Class A Common Stock, par value $0.001 — 260,641 shares (Direct)
Footnotes (2)
- F1. Includes an award of restricted stock units granted to the Reporting Person under the Kinetik Holdings Inc. (the "Company") Amended and Restated 2019 Omnibus Compensation Plan (the "Plan") that will generally vest on July 31, 2028, subject to the Reporting Person's continued service relationship with the Company through such date and may be settled only for shares of Class A Common Stock on a one-for-one basis.
- F2. Reflects 1,150 dividend equivalent shares accrued on performance share units ("PSU") granted to the Reporting Person under the Plan and the Company's Dividend and Distribution Reinvestment Plan after the Reporting Person's immediately prior Form 4 filing. Each dividend equivalent unit reflects the right to receive Class A Common Stock, subject to the terms and conditions (including vesting and settlement terms) applicable to the corresponding PSU. During the 2-year vesting period, the award will be credited with dividend equivalents that will be paid out in Class A Common Stock at the time the underlying units vest and shares are issued. The award and credited dividend will be payable on a one-to-one basis of Class A Common Stock for each vested PSU, including PSUs resulting from dividend equivalents.
Key Figures
Restricted stock units granted: 10,846 units
Dividend equivalent PSUs accrued: 1,150 units
Common shares held after award: 260,641 shares
+2 more
5 metrics
Restricted stock units granted
10,846 units
RSU award to CFO, generally vesting on July 31, 2028
Dividend equivalent PSUs accrued
1,150 units
Dividend equivalents on existing Performance Share Units
Common shares held after award
260,641 shares
Direct Class A common stock holdings following transactions
Performance Share Units after award
19,782 units
Total PSUs, each payable in one Class A share upon vesting
Award vesting date
July 31, 2028
General vesting date for the RSU award, subject to continued service
Key Terms
restricted stock units, Performance Share Units, dividend equivalent, Dividend and Distribution Reinvestment Plan, +1 more
5 terms
restricted stock units financial
"Includes an award of restricted stock units granted to the Reporting Person"
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 financial
"Reflects 1,150 dividend equivalent shares accrued on performance share units"
A dividend equivalent is a payment someone receives that matches the cash dividends paid on a stock, even though they don’t actually hold the shares. It often shows up in stock-based pay or certain derivatives, and matters to investors because it preserves the income value and alters the after-tax return and timing of payouts — think of it like getting a paycheck for the dividends you would have earned if you owned the stock directly.
Dividend and Distribution Reinvestment Plan financial
"under the Plan and the Company's Dividend and Distribution Reinvestment Plan"
Omnibus Compensation Plan financial
"under the Kinetik Holdings Inc. Amended and Restated 2019 Omnibus Compensation Plan"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did Kinetik Holdings (KNTK) CFO Howard Trevor receive on this Form 4?
Howard Trevor received 10,846 restricted stock units and 1,150 dividend equivalent Performance Share Units. Both are payable in Class A common stock, subject to vesting and other plan conditions.
When do the new restricted stock units for Kinetik (KNTK) CFO vest?
The restricted stock units generally vest on July 31, 2028, conditioned on Howard Trevor’s continued service with Kinetik Holdings Inc. through that date, after which they may settle one-for-one in Class A common stock.
Were Kinetik (KNTK) CFO Howard Trevor’s Form 4 awards granted under a company compensation plan?
Yes. Both the restricted stock units and dividend equivalent Performance Share Units were granted under Kinetik’s Amended and Restated 2019 Omnibus Compensation Plan and the Dividend and Distribution Reinvestment Plan, as applicable.
Do the Kinetik (KNTK) Form 4 transactions involve market purchases or sales by the CFO?
No. The Form 4 reports grant or award acquisitions of restricted stock units and dividend equivalent PSUs at $0.00 per unit, reflecting compensation awards rather than open-market purchases or sales.