Form 4: Baker Hughes Director Receives Stock Grant as Part of Retainer
SEC Form 4
Baker Hughes director Gregory D. Brenneman received 4,332 deferred stock units as part of his 2024 retainer, which will be delivered upon his departure from the board.
Summary
- Director Gregory D. Brenneman received 4,332 deferred stock units of Baker Hughes Co. on December 16, 2024.
- These stock units represent a right to receive one share of Class A common stock each.
- The deferred stock units vested immediately upon grant but will be delivered when Mr. Brenneman ceases to be a director.
- This grant is part of Mr. Brenneman's 2024 retainer fees, which he elected to receive in stock.
Sentiment
Score: 7
Explanation: The document reflects a standard corporate practice of compensating directors with equity, which is generally viewed positively. There are no indications of any negative issues.
Positives
- The grant of stock units aligns the director's interests with those of the shareholders.
- The immediate vesting of the stock units shows a commitment to the director's long-term involvement.
Future Outlook
The shares will be delivered to the director when he ceases to serve on the board.
Industry Context
Stock grants to directors are a common practice in corporate governance to align their interests with shareholders and incentivize long-term value creation.
Comparison to Industry Standards
- Director compensation packages often include a mix of cash and equity.
- Deferred stock units are a common method to provide equity compensation to directors, with vesting and delivery often tied to their tenure on the board.
- Companies like Schlumberger (SLB) and Halliburton (HAL) also use similar equity-based compensation for their directors.
Stakeholder Impact
- Shareholders may view this as a positive sign of aligning director interests with long-term company performance.
- The director is incentivized to contribute to the company's success.
Key Dates
| Date | Description |
|---|---|
| 07/25/2024 | Date of the Power of Attorney document. |
| 12/16/2024 | Date of the stock grant to Gregory D. Brenneman. |
| 12/18/2024 | Date the Form 4 was signed. |
Keywords
Baker Hughes, Director, Stock Grant, Deferred Stock Units, Retainer, BKR, Equity Compensation
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