Stockholders' Equity |
3 Months Ended |
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Mar. 31, 2025 | |
Stockholders' Equity | |
Stockholders' Equity |
10.Stockholders’ Equity Redemptions During the three months ended March 31, 2025 and 2024, 1,000,000 and zero Aris LLC units, respectively, together with an equal number of shares of our Class B common stock, were redeemed for shares of our Class A common stock on a one-for-one basis. Dividends and Distributions Our Board of Directors declared a dividend of $0.14 per share for the first quarter of 2025 on our Class A common stock. In conjunction with the dividend payments, a distribution of $0.14 per unit was paid to unit holders of Aris LLC for the first quarter of 2025, subject to the same payment and record dates. Our Board of Directors declared a dividend on our Class A common stock for the second quarter of 2025 of $0.14 per share. In conjunction with the dividend payment, a distribution of $0.14 per unit will be paid to unit holders of Aris LLC. The dividend will be paid on June 18, 2025 to holders of record of our Class A common stock as of the close of business on June 5, 2025. The distribution to unit holders of Aris LLC will be subject to the same payment and record dates. Treasury Stock During the three months ended March 31, 2025 and 2024, 326,025 shares and 108,814 shares, respectively, of our Class A common stock were withheld for the payment of taxes due on shares of common stock issued to employees under our 2021 Equity Incentive Plan. In connection with an asset acquisition in 2022, certain shares of our Class A common stock issued to the seller were held in escrow and could be released to the Company under certain conditions, including for the reimbursement of certain post-acquisition workover costs pursuant to the terms of the asset purchase agreement. During the first quarter of 2024, 23,107 of these escrow shares were released and returned to the Company for reimbursement of such workover costs and are included in “Treasury Stock” at a value of $0.3 million, which was their fair market value at the date of receipt. The receipt of these shares was recorded as a non-cash treasury stock transaction, with an allocation of the difference between the contractually ascribed value of the shares per the asset purchase agreement and the cost of the shares at the date of receipt recorded against the workover costs in the amount of $0.1 million. As of March 31, 2024, there were no remaining shares left in escrow. |