Multiple Prairie Operating Co. Executives Sell Shares Totaling Over $246K

Multiple Prairie Operating Co. Executives Sell Shares Totaling Over $246K

Prairie Operating Co. (NYSE: PROP) has seen several insider transactions involving its key executives. Bryan Freeman, the company's executive vice president of operations, sold shares worth over $32,000, reducing his direct ownership to 145,126 shares. These sales were primarily to cover tax withholding obligations related to his equity compensation. Freeman also received 47,963 restricted stock units (RSUs) under the company's Long-Term Incentive Plan (LTIP), set to vest in three annual installments starting March 5, 2025. Additionally, he was awarded 31,976 performance units, contingent on future share distribution.

Gizman Abbas, a director at Prairie Operating, sold shares valued at $6,977 across two transactions, decreasing his stake to 6,258 shares. These sales followed the settlement of RSUs granted in August 2023 and vested on May 3, 2024. Abbas also received 7,614 new RSUs, set to vest on June 5, 2025. Similarly, Chief Financial Officer Owen Robert Craig sold shares worth over $200,000 in recent transactions, including 17,413 shares sold to cover tax obligations, leaving him with 230,550 shares. Craig also acquired 47,963 RSUs under the LTIP, which will vest in three annual installments starting March 2025.

Despite these insider transactions, Prairie Operating Co. is facing financial challenges. The company has a significant increase in short-term obligations that exceed its liquid assets. However, it has seen substantial income growth of 501.39% in the last twelve months as of Q1 2024, despite a negative operating profit margin of -1584.93%. The company is set to be included in the Russell 3000 Index following the 2024 Russell US Indexes annual reconstitution, which may impact its stock performance.


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