Tamboran Resources Corp (NYSE:TBN) COO Faron James Thibodeaux recently made significant trades in the company’s stock, according to the latest SEC filings. On June 28, 2024, Thibodeaux purchased 17,000 shares of Tamboran Resources at a price of $24.00 per share, for a total investment of $408,000.
This purchase indicates a strong vote of confidence from the COO in the company’s future prospects. As a result of this transaction, Thibodeaux now owns a total of 105,998 shares of Tamboran Resources, reflecting both his recent purchase and an additional award of restricted stock units.
The 55,000-share restricted stock units were granted to Thibodeaux under a long-term incentive plan and will fully vest on the third anniversary of the grant date. These units represent a contingent right to receive common stock, further aligning the interests of the COO with those of the company and its shareholders.
Investors often view insider buying as a positive sign that company management believes in the company’s future performance. Thibodeaux’s recent transactions could be perceived as strong support for Tamboran Resources’ value and growth potential.
Tamboran Resources specializes in the exploration and production of crude oil and natural gas and is incorporated in Delaware. With these latest moves by a key executive, market observers and investors will be keeping a close eye on the company’s performance and strategic direction in the coming months.
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