Schmitz John, Select Water Solutions CEO, sells $661k in WTTR stock

John Schmitz, the Chairman and Chief Executive Officer of Select Water Solutions (WTTR), sold 50,000 shares of the company’s Class A common stock in a transaction valued at approximately $661,000 in Houston on July 18, 2024, according to a recent filing with the Securities and Exchange Commission (SEC). This transaction was part of a planned divestiture, as indicated by the official documentation, and comes at a time when market participants closely monitor the trading activities of high-ranking corporate executives for insights into company performance and valuation. The shares were liquidated at a weighted average price of $13.2205, following a series of trades executed within a price range of $13.15 to $13.35. While the sale represents a significant financial move, Schmitz remains a major stakeholder in the energy services firm, which specializes in water management and chemical solutions for the unconventional oil and gas industry. Following the transaction, internal records show that the CEO still maintains substantial direct and indirect ownership interest in the corporation, including millions of shares held through B-29 Investments, LP. Market analysts often view such insider transactions with interest, although they do not always signal a change in firm fundamentals. In this instance, the sale occurred as Select Water Solutions continues to navigate the volatile energy sector environment. The company, headquartered in Texas, has been focused on expanding its sustainable water infrastructure projects, and the disposal of shares by its founder is a routine event that must be disclosed to ensure transparency for shareholders and the broader financial market.