Taylor Amends 13D Filing for Natural Gas Services Group
Ticker: NGS · Form: SC 13D · Filed: Nov 25, 2024 · CIK: 1084991
Sentiment: neutral
Topics: 13D-filing, ownership-change, sec-filing
Related Tickers: NGAS
TL;DR
**Taylor amends 13D for NGAS - ownership change incoming.**
AI Summary
On November 21, 2024, Stephen Charles Taylor filed an amendment (Amendment No. 1) to Schedule 13D for Natural Gas Services Group, Inc. This filing indicates a change in beneficial ownership of the company's common stock. The filing was made with the SEC and pertains to the Securities Exchange Act of 1934.
Why It Matters
This amendment signals a potential shift in control or significant stakeholding in Natural Gas Services Group, Inc., which could impact the company's stock price and strategic direction.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased volatility and potential strategic shifts for the company.
Key Players & Entities
- Taylor Stephen Charles (person) — Filing person making the amendment
- Natural Gas Services Group, Inc. (company) — Subject company of the filing
- David A. Thayer, Esq. (person) — Authorized person to receive notices
- Jones & Keller, P.C. (company) — Legal counsel for the filing person
FAQ
What is the specific nature of the change in beneficial ownership reported in Amendment No. 1?
The provided text is an excerpt and does not detail the specific changes in beneficial ownership, only that an amendment was filed on November 21, 2024.
Who is Stephen Charles Taylor in relation to Natural Gas Services Group, Inc.?
Stephen Charles Taylor is identified as the filing person making the Schedule 13D amendment, indicating he is a significant shareholder or potential acquirer.
What is the CUSIP number for Natural Gas Services Group, Inc. common stock?
The CUSIP number for Natural Gas Services Group, Inc. common stock is 63886Q109.
When was the event that required this Schedule 13D filing to occur?
The date of the event which requires the filing of this statement is November 21, 2024.
What is the business address of Natural Gas Services Group, Inc.?
The business address of Natural Gas Services Group, Inc. is 404 Veterans Airpark Lane, Suite 300, Midland, TX 79705.
Filing Stats: 1,070 words · 4 min read · ~4 pages · Grade level 9.3 · Accepted 2024-11-25 17:48:48
Key Financial Figures
- $0.01 — f the shares of common stock, par value $0.01 per share (the " Common Stock "), of Na
Filing Documents
- staylor13d.htm (SC 13D) — 38KB
- 0001084991-24-000128.txt ( ) — 40KB
Identity and Background
Item 2. Identity and Background. Item 2(c) is hereby amended as follows The Reporting Person is no longer the Chief Executive Officer of the Company, but he continues to serve as the Chairman of the Board of the Company. The Company's principal executive offices are located at 404 Veterans Airpark Land, Suite 300, Midland, Texas 79705. The principal business of the Company is a U.S.-based provider of compression equipment to the oil and gas industry.
Purpose of Transaction
Item 4. Purpose of Transaction. (a) On November 21, 2024, the Reporting Person sold 38,479 shares of Common Stock in the Company (the " Stock Sale ") pursuant to a Rule 10b5-1 trading plan for the sale of up to an aggregate of 100,000 shares of the Company's common stock, subject to various volume amounts and price thresholds (the " Plan "). The Plan became effective on August 21, 2024 and terminates on August 19, 2025, unless sooner terminated under its terms. The Stock Sale reduced the Reporting Person's beneficial ownership to 4.86%. (b)-(j) Not Applicable.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer. (a) Immediately following the disposition of the shares in the Stock Sale, the Reporting Person may be deemed to beneficially own, in the aggregate, 605,962 shares of Common Stock of the Company. The 605,962 shares beneficially owned do not include Restricted Stock Units totaling 4,195 shares that are issuable upon the vesting of outstanding Restricted Stock Units (4,195 RSU's vest on or about September 13, 2025, if the terms of service are met.) a. The Reporting Person currently has sole voting and dispositive power over the 605,962 shares of Common Stock of the Issuer reported herein. a. In addition to the Stock Sale disclosed above, the Reporting Person made sales of an aggregate of 31,521 shares of Common Stock of the Issuer pursuant to the Plan during the 60 days prior to the Stock Sale. a. Not Applicable. a. As of November 21, 2024, in connection with the Stock Sale, the Reporting Person ceased being a beneficial owner of more than five percent of the Common Stock of the Issuer.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
is hereby amended as follows
Item 6 is hereby amended as follows The Reporting Person is the Chairman of the Board of the Issuer and in connection therewith, may receive future restricted stock unit awards, or other equity awards in connection with his service as a member of the Issuer's Board of Directors, as determined from time to time by the Compensation Committee of the Issuer. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date November 25, 2024 STEPHEN C. TAYLOR By s Stephen C. Taylor