Form 4 for HOS HORNBECK OFFSHORE SERVICES, INC.
Accepted 2025-03-03 00:00:00 ET · period of report 2025-02-27 · accession 0001415889-25-006260 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2025-03-03 | 2025-02-27 | HOS | KRATZ OWEN E | Pres, CEO, Dir | M - OptEx | — | +490.4K | 7.96M | +7% | — |
| D | 2025-03-03 | 2025-02-27 | HOS | KRATZ OWEN E | Pres, CEO, Dir | F - Tax | $9.32 | -193.0K | 7.77M | -2% | -$1.80M |
| D | 2025-03-03 | 2025-02-27 | HOS | KRATZ OWEN E | Pres, CEO, Dir | M - OptEx | $0.00 | -576.9K | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-02-27 | M | A | 490,385 | — | 7,959,663 | D | — | — | (F1) Each Performance Share Unit ("2022 PSU") was granted on January 4, 2022 pursuant to the Company's 2005 Long-Term Incentive Plan (as amended, the "LTIP") and represented the contingent right to receive one share of Company common stock subject to the terms of the LTIP and the 2022 PSU Award Agreement. Actual number of shares upon vesting could have ranged from 0-200% dependent in equal parts on the Company's total shareholder return performance compared to a selected peer group and the generation of free cash flow ("FCF") compared to benchmarks over the three-year period beginning January 1, 2022 and ended December 31, 2024. The Company generated cumulative FCF during the performance period exceeding the highest benchmark threshold under the 2022 PSU Award Agreement which resulted in a 200% payout for the FCF portion and are settled hereby. The Compensation Committee of the Company's Board of Directors elected to pay in cash the value of a portion of the 2022 PSUs which vested. (F2) Mr. Kratz disclaims beneficial ownership of 1,000,000 shares included in this amount, which shares are held by Joss Investments Limited Partnership, an entity in which he is a general partner. |
| 2 | Common | Common Stock | 2025-02-27 | F | D | 192,967 | $9.32 | 7,766,696 | D | — | — | (F3) These shares were forfeited to satisfy tax obligations related to the vesting of the reporting person's 2022 PSUs. (F2) Mr. Kratz disclaims beneficial ownership of 1,000,000 shares included in this amount, which shares are held by Joss Investments Limited Partnership, an entity in which he is a general partner. |
| 3 | Derivative | Performance Share Units | 2025-02-27 | M | D | 576,923 | $0.00 | 0 | D | — · — to — | 576,923 Common Stock | (F1) Each Performance Share Unit ("2022 PSU") was granted on January 4, 2022 pursuant to the Company's 2005 Long-Term Incentive Plan (as amended, the "LTIP") and represented the contingent right to receive one share of Company common stock subject to the terms of the LTIP and the 2022 PSU Award Agreement. Actual number of shares upon vesting could have ranged from 0-200% dependent in equal parts on the Company's total shareholder return performance compared to a selected peer group and the generation of free cash flow ("FCF") compared to benchmarks over the three-year period beginning January 1, 2022 and ended December 31, 2024. The Company generated cumulative FCF during the performance period exceeding the highest benchmark threshold under the 2022 PSU Award Agreement which resulted in a 200% payout for the FCF portion and are settled hereby. The Compensation Committee of the Company's Board of Directors elected to pay in cash the value of a portion of the 2022 PSUs which vested. |