Prairie Operating Co. Director Stephen Lee Makes Strategic Stock Transactions
Prairie Operating Co. Director Stephen Lee recently executed significant transactions involving the company’s common stock. Lee sold a total of 605 shares, generating $6,977 in proceeds. These sales were executed on June 12 and June 14, 2024, with prices per share ranging from $10.98 to $12.85. On June 12, Lee sold 179 shares at an average price of $12.85, and two days later, he sold an additional 426 shares at an average price of $10.98. These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission.
Concurrently, Lee acquired 6,863 shares of Prairie Operating’s common stock, which correspond to vested Restricted Stock Units (RSUs) granted on August 25, 2023. These RSUs vested on May 3, 2024, and were settled in common stock at no cost to Lee on June 12, 2024.
Additionally, the Form 4 filing indicated that Lee was granted 7,614 new RSUs on June 12, 2024. These RSUs are scheduled to vest on June 5, 2025, representing a contingent right to receive shares of common stock or potentially cash equal to the fair market value of the shares.
Following these transactions, Stephen Lee's ownership in Prairie Operating Co. stands at 6,258 shares of common stock directly held.
Prairie Operating to Join Russell 3000 Index
Prairie Operating Co. is set to join the Russell 3000 Index following the 2024 Russell US Indexes annual reconstitution. This significant inclusion could potentially place Prairie Operating in either the large-cap Russell 1000 or small-cap Index, as well as in applicable growth and value style indexes.
Ed Kovalik, Chairman and CEO, hailed this development as a testament to Prairie Operating's robust growth strategies and progress. Kovalik noted the potential benefits of increased investor visibility and a broader investor base resulting from the inclusion.
Fiona Bassett, CEO of Russell, emphasized the importance of their annual reconstitution in ensuring the indexes accurately reflect the U.S. stock market and remain unbiased.
However, it is important to note that the company's forward-looking statements involve risks and uncertainties, and actual results may differ from those projected. Further details on these risks are available in Prairie Operating's periodic filings with the Securities and Exchange Commission.
For more details, the filing can be accessed on SEC’s website.
