Flowco Holdings Inc. (NASDAQ:FLOC) recently reported that its President and CEO, Joseph R. Edwards, acquired a significant amount of the company's stock. According to the SEC filing, Edwards purchased 50,000 shares of Flowco's Class A Common Stock on January 17, 2025, at a price of $24 per share, totaling $1.2 million. The purchase price represents an attractive entry point, as InvestingPro analysis suggests the stock is currently undervalued, while trading near its 52-week high of $30.50.
In addition to this purchase, Edwards also received 134,792 restricted stock units (RSUs) on the same day. These RSUs are set to vest on the third anniversary of the grant date, with provisions for accelerated vesting in the event of a change in control of the company. Each RSU represents the right to receive one share of Class A Common Stock.
Following these transactions, Edwards holds a total of 184,792 shares directly.
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