Range Resources CEO gets stock award, sells shares
Range Resources Chief Executive Officer Dennis Degner reported both a stock award and a small share sale.
Rhea-AI Filing Summary
Range Resources Chief Executive Officer Dennis Degner reported both a stock award and a small share sale. On March 27, he received 76,334 shares of common stock as a grant or award at $47.65 per share, issued net of taxes based on performance criteria from a March 2023 PSU grant.
On March 30, a deferred compensation account associated with him sold 15,000 common shares at an average price of $46.21 per share, primarily to pay taxes tied to a previously scheduled June distribution from the 2004 Deferred Compensation Plan. After these transactions, he held 835,980 common shares directly, plus 7,572 shares in the deferred compensation account and 190,485 unvested common shares as indirect unvested stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 15,000 shares
Net Sell
3 txns
Insider
Degner Dennis
Role
Chief Executive Officer & Pres
Sold
15,000 shs ($693K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 15,000 | $46.21 | $693K |
| Grant/Award | Common Stock | 76,334 | $47.65 | $3.64M |
| holding | Common Stock Unvested | -- | -- | -- |
Holdings After Transaction:
Common Stock — 835,980 shares (Direct);
Common Stock — 7,572 shares (Indirect, Deferred Compensation Account);
Common Stock Unvested — 190,485 shares (Indirect, Unvested Stock)
Footnotes (2)
- F1. Shares are issued net of taxes based on the application of performance criteria under the March 2023 PSU Grant wich resulted in 120% of the target vesting of TSR PSU's and 156.44% of the target vesting of the Absolute Measure PSU's.
- F2. Represents the sale of shares primarily to pay taxes associated with a previously scheduled June distribution from the 2004 Deferred Compensation Plan.
Key Figures
Shares sold: 15,000 shares
Sale price: $46.21 per share
Stock award: 76,334 shares
+5 more
8 metrics
Shares sold
15,000 shares
Open-market sale on March 30 at $46.21 via deferred compensation account
Sale price
$46.21 per share
Average price for 15,000-share sale on March 30
Stock award
76,334 shares
Common stock grant on March 27 at $47.65 per share
Award price
$47.65 per share
Value assigned to March 27 common stock grant
Direct holdings after
835,980 shares
Common stock directly owned by CEO after transactions
Deferred comp holdings
7,572 shares
Common stock in deferred compensation account after sale
Unvested stock
190,485 shares
Common stock unvested held indirectly as of March 27
PSU performance (TSR)
120%
Percentage of target vesting for TSR PSUs under March 2023 PSU grant
Key Terms
Deferred Compensation Plan, performance criteria, PSU, TSR PSU, +2 more
6 terms
Deferred Compensation Plan financial
"previously scheduled June distribution from the 2004 Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
performance criteria financial
"Shares are issued net of taxes based on the application of performance criteria"
PSU financial
"March 2023 PSU Grant wich resulted in 120% of the target vesting"
A PSU is a company where the government owns a controlling stake and often plays a direct role in its management and strategy. Think of it like a business that operates with public oversight, similar to a town-run utility versus a private neighborhood service. Investors watch PSUs differently because government involvement can affect profits, dividend policies, regulatory treatment and stability, so these stocks may behave more like policy instruments than pure market-driven enterprises.
TSR PSU financial
"120% of the target vesting of TSR PSU's"
Absolute Measure PSU financial
"156.44% of the target vesting of the Absolute Measure PSU's"
unvested stock financial
"Common Stock Unvested ... nature_of_ownership: "Unvested Stock""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did RRC CEO Dennis Degner report on this Form 4?
Dennis Degner reported receiving a grant of 76,334 Range Resources common shares on March 27 and an indirect sale of 15,000 shares on March 30. The sale came from a deferred compensation account and was primarily to cover tax obligations.
What stock award did the Range Resources CEO receive in this Form 4 filing?
On March 27, CEO Dennis Degner received a grant of 76,334 Range Resources common shares valued at $47.65 per share. The filing notes these shares were issued net of taxes, based on performance criteria from a March 2023 performance share unit (PSU) grant.
What do the performance criteria mean in the Range Resources PSU award?
The filing explains that PSU shares were issued net of taxes after performance criteria were applied. It states vesting reached 120% of target for TSR PSUs and 156.44% of target for Absolute Measure PSUs, indicating above-target performance against those specific measures.
AI-generated analysis. How Rhea-AI works. Not financial advice.
